International Soybean Market

10-Jan-2025 08:25 AM

International Soybean Market
The U.S. may export 4-13 lakh tons of soybean for the 2024-25 season and 1 lakh ton for 2025-26.
Soymeal exports expected at 1.5-4 lakh tons, and soybean oil at 60,000 tons.
Argentina and southern Brazil to remain dry for 7 days, with possible rain from Jan 20-25.
USDA report may increase Brazil’s soybean estimate to 1703 lakh tons (+13 lakh tons) and reduce Argentina’s to 520 lakh tons.
Global ending stock projected at 1322 lakh tons, up by 3.3 lakh tons from December.
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Palm Oil in Malaysia & Indonesia
Malaysian CPO prices fell from 4625 ringgit on Dec 27 to below 4300 ringgit by Jan 9.
Weak export demand and high stock causing decline.
Market depends on Indonesia's export levy decision.
Rising domestic consumption in Indonesia may cause palm oil shortage.
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Domestic Soybean Market
Prices remain below MSP due to several factors.
NAFED purchased 8.84 lakh tons by Jan 8, targeting 33.85 lakh tons.
High edible oil imports and good stock in India.
Weak soymeal export demand and competition from maize-based DDGS impacting prices.
Government intervention needed to protect the soymeal industry from DDGS competition.
Mustard meal demand also affected.
NAFED will sell soybeans after procurement ends.
Market outlook remains weak for price rise.