International Soybean Market Update

29-Mar-2025 08:13 AM

International Soybean Market Update
According to the Commitment of Traders (COT) report released on Friday afternoon, speculative traders increased their net short positions in soybean futures and options by 20,954 contracts as of Tuesday. As of March 25, their total net short position stood at 45,959 contracts.
As per the weekly Export Sales data, total soybean commitments reached 45.76 MMT as of March 20, marking a 13% increase compared to the same period last year. This accounts for 92% of the USDA’s export projection, slightly below the 93% five-year average pace.
Ahead of Monday’s Prospective Plantings Report, traders expect an average soybean acreage of 83.8 million acres, according to a Bloomberg survey, with estimates ranging between 82.5 and 85.5 million acres. Soybean stocks as of March 1 are estimated at 1.905 billion bushels (bbu) ahead of the March 31 Grain Stocks report, with projections ranging from 1.823 to 2.016 billion bushels.