International Soybean Market

03-Jan-2025 08:08 AM

International Soybean Market
Rain is expected in eastern and central Argentina over the next 8–14 days, while northeastern Argentina and southern Brazil are likely to remain dry. StoneX has increased its forecast for Brazil’s 2024/25 soybean production by 5.2 million metric tons to 171.4 million metric tons.
According to the monthly Fats and Oils report, November soybean crush totaled 210 million bushels, exceeding the estimate of 207.2 million bushels. Although this was 2.66% lower than October's all-time record, it was 4.97% higher than November 2023 and set a monthly record. Soybean oil stocks at the end of November stood at 1.612 billion pounds, surpassing expectations.
The weekly export sales report will be released Friday morning. A Reuters survey of traders predicts 2024/25 soybean bookings for the week ending December 26 to be in the range of 0.5–1.2 million metric tons, with estimated sales for 2025/26 between 0–100,000 metric tons. Soybean meal sales are projected to be between 150,000–400,000 metric tons, and soybean oil bookings are expected to range from 5,000–40,000 metric tons.