USDA report and other updates:

11-Dec-2024 09:07 AM

USDA report and other updates:
US Soybean Balance Sheet:
No changes were made.
The cash average price was reduced by $0.60 to $10.20.
Global Soybean Stock:
Increased by 1.3 lakh tonnes to 1,318.7 lakh tonnes.
Production Figures:
Brazil: Unchanged at 1,690 lakh tonnes.
Argentina: Increased by 10 lakh tonnes to 520 lakh tonnes.
Brazil Soybean Exports:
ANEC revised December export estimates upward to 15.7 lakh tonnes, 3.3 lakh tonnes more than previous estimates.
China Soybean Imports:
November imports: 71.5 lakh tonnes.
January-November total: 970.9 lakh tonnes, a 9.4% increase year-over-year.
India Soyoil Imports:
Projected to rise to 38 lakh tonnes in the 2024-25 season, compared to 33 lakh tonnes in the previous season.
India Soymeal Outlook:
Exports are expected to decline from 19.7 lakh tonnes in 2023-24 to 13 lakh tonnes in 2024-25.
Domestic consumption is projected to increase by 4.6 lakh tonnes to 75.4 lakh tonnes.