International Soybean Market Update:

28-Jan-2025 08:11 AM

International Soybean Market Update:
According to the Weekly Export Inspections report, a total of 729,362 metric tons (26.8 million bushels) of soybeans were shipped during the week ending January 23. This represents a 20.2% decrease compared to the same week last year and an 8.5% decrease from the previous week. Shipments were distributed across various destinations, with China as the top destination, receiving 141,275 metric tons, followed by Colombia with 119,230 metric tons.
The marketing year's total shipments since September 1 have reached 33.03 million metric tons (1.214 billion bushels), up 19.3% compared to the same period last year.
AgRural has reduced Brazil's soybean production estimate by 0.5 MMT to 171 million metric tons, citing lower yields in southern regions. As of now, 3.9% of the crop has been harvested.