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Export inspections of US soybeans were up by 4% to 1.35 million tonnes in the week ended Thursday January 9 from the 1.30 million tonnes recorded a week earlier, data from the US Department of Agriculture (USDA) showed on Monday January 13.
China’s total soybean imports reached a record 105 million tonnes in 2024, 6.5%, or 6.42 million tonnes higher than the 98.6 million tonnes reached in 2023, according to data released by the country’s General Administration of Customs (GACC) on Monday January 13.
Soybean futures rose sharply on the Chicago Mercantile Exchange on Friday January 10, after the US Department of Agriculture cut its estimates for soybean production, yield and ending stocks in the US, also reducing its global ending stocks — all more aggressive reductions than market participants expected.
Fastmarkets’ weekly recap of the main movements in global cash markets.
The USDA’s December quarterly stocks outlook update, released on Friday January 10, delivered tighter-than-expected corn and soybean reserves in the US, while wheat stocks were slightly higher than projected by market participants.
US corn yields were at a record high in 2024 despite a decline in production, while soybean output increased on expanded acreage, according to the USDA’s annual crop production summary report released on Friday January 10.
Soybean and soymeal futures rallied, while soyoil prices rose only marginally, after the USDA published the January edition of its World Agricultural Supply and Demand Estimates (WASDE) report on Friday January 10 showing lower-than-expected figures for soybean output and ending stocks in 2024/25.
The US Department of Agriculture has cut its forecast for US ending stocks, production and yield in 2024/25 below market estimates while keeping the forecast for Brazilian soybean output unchanged in its World Agricultural Supply and Demand Estimates (WASDE) report released on Friday January 10.
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US net soybean sales fell to 288,700 tonnes during the week to January 2, a marketing-year low and a drop of 40% from 484,700 tonnes the previous week and 72% lower than the previous four-week average, US Department of Agriculture (USDA) data showed on Friday January 10.
The soybean CFR China (Brazil) basis assessment for February shipment was assessed...
US net soybean meal sales and exports were down in the week to January 2, and were either below or within analysts’ expectations, according to figures released by the US Department of Agriculture (USDA) on Friday January 10.
Canada’s grain and oilseed exports totaled 683,600 tonnes in the week to January 5, a decrease of 64,400 tonnes, or 9%, from 748,000 tonnes the previous week, according to data from the Canadian Grain Commission published on Friday January 10.
China’s agriculture outlook committee (CAOC) has raised its estimates for the country’s corn production and lowered corn imports for 2024/25 in the latest Chinese Agricultural Supply and Demand Estimates (Casde) report released Friday January 10.
The lack of rain has caused water stress in a significant portion of soybean crops, hindering the end of sowing in the Brazilian state of Rio Grande do Sul, state agency Emater/RS said in its weekly report released on Thursday January 9.
Soil moisture conditions continued to decline in soybean, corn and sunflower crops in the week ended January 8, although the majority of the crops remained under optimal to adequate conditions, according to the Buenos Aires Grains Exchange (BAGE) report released on Thursday January 9.
Dry conditions in the US Midwest in the week beginning Thursday January 9 are expected to stress winter wheat crops, with minimal precipitation and existing drought conditions limiting soil moisture.
Soybean futures rose on the Chicago Mercantile Exchange on Thursday January 9 when there was a shorter session for observance of former US President Jimmy Carter’s state funeral, and market-moving reports were scheduled for January 10.
The soybean CFR China (Brazil) basis assessment for February shipment was assessed...
Soybean harvest has begun in Brazil, and market analysts expect soybean bumper crops from South America in 2025, provided that there are no weather-related issues and that potential tariffs on China by the Donald Trump administration do not disrupt exports. The ample supply from Brazil and Argentina may put pressure on prices on the Chicago Mercantile Exchange and at domestic cash markets, sources told Fastmarkets.