International Soy Market Update

27-Dec-2024 08:16 AM

International Soy Market Update
Weather: Brazil expects normal rainfall next week, but drought risks may rise in the south and Argentina, with drier conditions forecast from January.
Soybean Meal: Demand is increasing due to dry weather concerns and short covering.
Export Estimates:
Soybeans: 1.0–1.8 MMT for 2024/25; 0.07–0.125 MMT for 2025/26.
Soybean Meal: 0.2–0.45 MMT.
Soybean Oil: 5,000–15,000 tonnes.
Production and Exports:
Canada: November canola crushing at 1.019 MMT (+12.2% YoY).
Brazil: December soybean exports projected at 1.62 MMT, steady week-over-week.