International Soybean Market

14-Jan-2025 08:28 AM

International Soybean Market
★ The U.S. inspected 1.35 million tons of soybean exports during the week ending January 9, a 4.2% increase from last year.
★ China imported the highest quantity at 420,000 tons, followed by Bangladesh (180,000 tons), Indonesia (77,000 tons), Italy (71,000 tons), and Turkey (70,000 tons).
★ Cumulative soybean exports for the current season reached 31.3 million tons, a 22% increase from last year.
★ According to USDA, a private exporter in China contracted approximately 200,000 tons of soybeans this week.
★ Soybean harvesting has begun in Brazil, with production projected at 172 million tons. China imported 8 million tons in October, slightly lower than last year.
★ Total imports reached 105.03 million tons, up 6.5% from the previous year.
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Domestic Oilseed Market
★ A bearish trend prevails in the domestic oilseed market.
★ Soybean prices are below MSP, while mustard prices are slightly higher.
★ Groundnut and sunflower prices are also trading below MSP.
★ Price increases in oilseeds are unlikely in the near future.