International Soybean Market

15-Mar-2025 08:25 AM

International Soybean Market
The USDA reported this morning that 20,000 metric tons of soybean oil were sold via private export sales to unknown destinations.
According to Commitment of Traders data, as of Tuesday, managed money speculative funds reduced their net short position in soybean futures and options by 19,943 contracts. This brings their total net short position down to 15,544 contracts.
NOPA crush data for the month of February will be released on Monday. Analysts estimate that a total of 185.229 million bushels (mbu) of soybeans were crushed in February. If accurate, this would be 7.6% lower than January (due to the shorter month), and 0.5% lower than February last year, which was a leap year with 29 days.
According to the Buenos Aires Grain Exchange, 32% of Argentina’s soybean crop is rated as “excellent”, up 3% from last week. Meanwhile, the share of the crop rated “poor” fell by 1% to 26%.
Safras & Mercado has revised its estimate for Brazil’s soybean crop down to 172.45 million metric tons (MMT), which is 2.43 MMT lower than its previous estimate.