International Soybean Market:

01-Feb-2025 08:02 AM

International Soybean Market:
CFTC Data: According to CFTC data, managed funds added 16,166 contracts to their net long position as of January 28, bringing the total net long position to 56,496 contracts. This indicates growing confidence and investment in the market.
USDA Report: The USDA will release its monthly Fats & Oils report on Monday, with analysts estimating that 217.6 million bushels (mbu) of soybeans were crushed in December. Additionally, soybean oil stocks are expected to be around 1.734 billion pounds.
Export Sales Data: According to USDA export sales data, total export commitments have reached 42.683 million metric tons (MMT), which is 86% of the USDA's export forecast. This is ahead of the average sales pace (84%), signaling strong export demand.
Argentina Soybean Production: The Buenos Aires Grain Exchange reports that 20% of Argentina's soybean production is rated as "excellent," 2% lower than previous data. Meanwhile, 28% has shifted to the "poor" category, which could put pressure on Argentina's soybean production.