Soybean export sales for the 2019/20 marketing year of 344.9 thousand metric tons (TMT), were up 100 TMT from last week but 48 percent below the prior four-week average of 657.5 TMT. New crop sales totaled 500 MT, lifting total sales to 345.4 TMT. Combined crop year sales were up 13 percent from last week but below analyst estimates that ranged from 350 to 1,050 TMT. 2019/20 export commitments are 79 percent of the USDA forecast and need to average 544 TMT per week to meet expectations. Export sales are 15 percent below the 2018/19 crop year pace. Major purchases were reported for Spain, Bangladesh, and Egypt.
Soybean meal sales for the 2019/20 marketing year of 102.9 TMT were down 56 TMT from last week and 43 percent below the prior four-week average of 182 TMT. New crop sales totaled 15.5 TMT, lifting total sales to 120.6 TMT. Combined crop year sales were down 25 percent from last week’s report but…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...