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China concluded an imported soybeans auction on Wednesday July 17 with a total of 233,406 tonnes sold out of the 547,614 tonnes offered, yielding a 42.6% clearance rate, sources told Fastmarkets.
China’s soybean crush volume in the week ended Friday July 12 rose from the previous week to 2.06 million tonnes, figures from the China National Grain and Oils Information Centre (CNGOIC) released this week showed.
Egyptian state buyer General Authority of Supply Commodities (GASC) issued an international and local tender to buy vegetable oils for September delivery on Wednesday July 17, a market source told Fastmarkets.
Brazilian grain exporters association Anec increased its July soybean export forecast to 10.7 million tonnes from the previous estimate of 10.3 million tonnes, its latest weekly report showed on Wednesday July 16.
Soybean futures rebounded on Tuesday July 16 after the USDA’s crop condition report showed no improvements to the US soybean crop that were expected by market participants; futures moved up on bargain buying as well.
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Weekly soybean imports into the EU totaled 290,284 tonnes in the week ended Sunday July 14, according to initial data from the European Commission released on Tuesday July 16.
The soybean CFR China (Brazil) basis assessment for September loading was assessed 1 cent per...
The Brazilian Association of Vegetable Oil Industries (Abiove) raised its estimate for the country’s soybean crop output in 2023/24 to 153.2 million tonnes, a 700,000-tonne increase from last month’s 152.5 million tonnes projection, its monthly report showed on Tuesday July 16.
US corn and soybean crop conditions were unchanged in the week to Sunday July 14, while spring wheat and barley conditions improved, the USDA’s weekly crop progress report showed on Monday July 15.
Brazilian soybean exports kept at a strong pace in July, while corn shipments struggled to keep up with last year’s figures, customs data showed late on Monday July 15.
Soybean futures collapsed on Monday July 15, setting new contract lows for multiple months amid ample offers and low demand in the US. It is the second time this month futures have hit their lowest levels.
US soybean crush declined sharply in June 2024, down from a record monthly high in May, according to the latest data released by the National Oilseed Processors Association (NOPA) on Monday July 15.
Export inspections of US soybeans were down 43% to 168,593 tonnes during the week to July 11, from the 294,209 tonnes recorded a week earlier, data from the US Department of Agriculture (USDA) showed on Monday July 15.
The soybean CFR China (Brazil) basis assessment for August loading was assessed 1 cent...
Managed money investors in the US soybean and corn markets accumulated short positions in the week to Tuesday July 9, sending net short positions to record highs, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday July 12.
Soybean futures were down on Friday July 12 following the USDA’s World Agricultural Supply and Demand Estimates (WASDE) release, with low demand and ample supply continuing to put pressure on futures on the Chicago Mercantile Exchange.
The USDA cut its forecast for US ending stocks for 2024/25 below expectations, while reducing US soybean crop output in line with the average market projections, its World Agricultural Supply and Demand Estimates (WASDE) report showed on Friday July 12.
Soyoil future prices spiked after the USDA reported its monthly World Agricultural Supply and Demand Estimates (WASDE) report on Friday July 12 with a cut to US ending soybean stocks for both crops.
Fastmarkets’ weekly recap of the main movements in global cash markets.