International Soybean Market Update

04-Apr-2025 08:16 AM

International Soybean Market Update
Tariffs and Trade Policy: President Trump has announced a retaliatory tariff of 34% on China, which brings the total tariff to 54% when combined with previously implemented tariffs. Meanwhile, the European Union (EU) faces a 20% tariff. All these tariffs will go into effect starting April 9.
As of the market close on Thursday, no concrete retaliatory actions have been reported from any of the affected countries.
FAS Weekly Report (Week Ending March 27):
Old Crop Soybean Sales:
Totaled 410,172 metric tons (MT) – within the trade expectations range of 250,000 to 800,000 MT.
This was the highest in three weeks and three times more than sales during the same week last year.
China was the leading buyer with 285,900 MT, of which 264,000 MT were transferred from "unknown" sources.
Taiwan purchased 73,100 MT.
New Crop Soybean Sales:
Only 3,274 MT, which is at the low end of expectations (0 to 50,000 MT).
Soybean Meal Sales:
Totaled 93,497 MT, below trade estimates of 100,000 to 300,000 MT.
Soybean Oil Sales:
Reached 13,842 MT, the lowest in seven weeks and at the low end of expectations (5,000 to 40,000 MT).
Exports:
Soybean Exports:
At 3.07 million metric tons (MMT) or 112.66 million bushels (bbu).
This is down 41.17% from January and 41.75% lower than the same period last year.
It marks the lowest February export volume since 2020.
Marketing year-to-date total shipments: 1.415 billion bushels (bbu).
Soybean Meal Exports:
1.125 MMT in February, which is 17.64% less than last year.
Soybean Oil Exports:
136,250 MT, which is significantly higher than last year.