International Soybean Market Update

04-Mar-2025 08:12 AM

International Soybean Market Update
According to the Fats & Oils report, a total of 212.5 million bushels (mbu) of soybeans were crushed in January. This represents a 2.36% decline compared to the previous month but is 9.41% higher year-over-year (yr/yr). At the end of January, soybean oil stocks stood at 2.09 billion pounds, which is 3.06% higher than last year.
According to weekly export inspection data, 695,158 metric tons (MT) (25.54 million bushels) of soybeans were shipped in the week ending February 27. This is 20.9% lower than the previous week and 40.1% lower than the same week last year.
This week, China was the largest importer, receiving 350,023 MT, followed by Egypt with 64,591 MT and the Netherlands with 60,384 MT.
Total exports for the current marketing year have reached 37.59 MMT (1.381 bbu), which is still 9.6% higher than the same period last year.
According to AgRural, as of last Thursday, 50% of Brazil’s soybean crop had been harvested, which is 2% ahead of last year’s pace.