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Net US soybean oil sales and exports came in above market analysts' expectations in the week to December 19, data released by the USDA on Friday December 27 showed.
China’s inventories of three major vegoils — soybean oil, palm oil and rapeseed oil — collectively fell to 1.9 million tonnes in the week to Friday December 20, 20,000 tonnes lower than the previous week’s 1.92 million tonnes, with declines in soybean and palm oil stocks, according to figures from the China National Grain and Oils and Information Centre (CNGOIC).
Brazilian corn exports amounted to 3.32 million tonnes in the first three weeks of December, while 1.35 million tonnes of soybean were shipped in the same period, customs weekly data showed on Monday December 23.
Investors in the US corn and soybean markets shed longs positions in the week to Tuesday December 17, helping trim the corn net long, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday December 20.
EU oilseed crushing volumes totaled 3.2 million tonnes in November, showing a slight decline of 1.4% from 3.277 million tonnes in October, according to data released by the EU vegetable oil and protein meal association, FEDIOL, on Thursday December 19.
US soymeal sales for 2024/25 were 261,600 tonnes in the week to December 12, up by 48% week on week but down by 14% from the four-week average, according to figures released by the USDA on Thursday December 19.
A correction has been issued for this report.
China’s inventories of major vegetable oils – soybean, palm and rapeseed – saw a collective increase to 1.92 million tonnes in the week to Friday December 13, 10,000 tonnes week on week, with a rise in palm and rapeseed oil inventories outweighed the drop in soybean oil stocks, according to figures from the China National Grain and Oils Information Center (CNGOIC).
China imported an estimated 70,000 tonnes of wheat in November, according to data from the country’s General Administration of Customs (GACC) released on Wednesday December 18.
Black Sea sunflower oil prices have fallen by at least 7% over the past month and continue to decline, weighed down by the increased availability of soybean oil relative to other vegetable oils, weak demand from key buyers amid ample short-term coverage and competitive prices from Russian sellers due to a higher-than-expected sunflower harvest in Russia, as well as the deferred EU Deforestation Regulation policy, which kept the palm oil and soy oil supply unhindered.
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The EU imported a total of 353,873 tonnes of soybeans in the week ended Sunday December 15, pushing the yearly total to 6.27 million tonnes, which represents a 16% increase compared with the previous year, based on preliminary data from the European Commission.
Brazilian corn exports amounted to 2.37 million tonnes in the first two weeks of December, while soybean exports advance was slow, with 953,876 tonnes shipped in the first half of the month, customs weekly data showed on Monday December 16.
US soybean crush reached a new record for the month of November at 193.19 million bushels, data released by the National Oilseed Processors Association (NOPA) on Monday December 16 showed.
Speculators in the US corn market shed short positions while accumulating longs in the week to Tuesday December 10, sending the net long to the highest level since February 2023, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday December 13.
The Brazilian Association of Vegetable Oil Industries (Abiove) increased its estimates for Brazil’s soybean output in 2024/25 by 1 million tonnes to 168.7 million tonnes and raised its 2025 soybean export forecast to 104.4 million tonnes, both record volumes, while also elevating its projection for soyoil exports, Abiove’s monthly report showed on Thursday December 12.
Brazilian food agency Conab has trimmed its estimate for the country's total corn crop in 2024/25 to 119.63 million tonnes while marginally increasing its projection for soybean output to 166.2 million tonnes, its monthly report showed on Thursday December 12.
Net US soybean oil sales for the 2024/2025 season increased in the week to December 5 to 63,800 tonnes, while exports were down, the USDA reported on Thursday December 12.
India imported 1.59 million tonnes of edible vegetable oils in November, an increase of 12.4% or 175,691 tonnes from October, reaching a four-month high following a surge in imports of soft oils and amid post-festival season restocking, data released by the Solvent Extractors Association of India (SEA) on Thursday December 12 shows.
China’s inventories of soybean oil and palm oil continued to see a weekly decline in the week to Friday December 6, according to figures from the China National Grain and Oil Information Center (CNGOIC).