International Soybean Market Update

11-Apr-2025 08:21 AM

International Soybean Market Update
The USDA reported U.S. soybean sales for the week ending April 3, 2025, at 172,324 metric tons (MT) for the 2024/25 marketing year — the lowest level in the past 8 weeks. Out of this, China purchased 141,300 MT, of which 132,000 MT were shifted from unknown destinations. The total volume of unshipped orders to China now stands at just 395,000 MT. There were 0 MT sales reported for the new crop.
Soybean Meal Sales reached 275,955 MT, within the estimated range of 75,000 to 470,000 MT, and marked the highest level in 7 weeks.
Soybean Oil Sales were reported at 20,195 MT, which was within the expected range of 5,000 to 37,000 MT, and also higher than the previous week.
In its monthly WASDE report, the USDA updated the U.S. and global soybean balance sheets:
U.S. ending stocks (carryout) were reduced by 5 million bushels (mbu) to 375 mbu.
This was due to a 5 mbu increase in imports and a 10 mbu increase in crush, which now stands at 2.42 billion bushels.
Argentina’s production estimate was unchanged at 49 MMT, and Brazil's estimate remained steady at 169 MMT.
Global ending stocks were increased by 1.06 MMT to 122.47 MMT, mainly due to a 2.72 MMT increase in carry-in.
This rise was because Brazil’s 2023/24 production estimate was revised up by 1.5 MMT.
According to CONAB, Brazil’s soybean crop estimate was increased by 0.5 MMT to 167.87 MMT.
On the other hand, the Rosario Grains Exchange cut Argentina’s crop forecast by 1 MMT, bringing it down to 45.5 MMT.