Soybean export sales for the 2019/20 marketing year of 655.5 thousand metric tons (TMT), were 2.4 TMT over last week’s total and 13 percent over the four-week average of 580.3 TMT. New crop sales totaled 440 TMT, lifting total sales to 1095.5 TMT. Combined crop year sales were up 22 percent from last week but within analyst estimates that ranged from 600 to 1,350 TMT. 2019/20 export commitments are 84 percent of the USDA forecast and need to average 497 TMT per week to meet expectations. Export sales are 11 percent below the 2018/19 crop year pace. Major purchases were reported for China, the Netherlands, and Egypt.
Soybean meal sales for the 2019/20 marketing year of 101.4 TMT were 30 TMT below last week’s total and 12 percent below the prior four-week average of 139.2 TMT. New crop sales totaled 18.8.8 TMT, lifting total sales to 120.2 TMT. Combined crop…
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...