During the week ending January 18, domestic soybean oil exports were unchanged for the period at 300 tonnes (MT), the USDA’s Weekly Export Report released on Thursday showed. The total was down 39 percent from the four-week average. The sole buyer was again Canada. U.S. net soybean oil sales for 2023/24 totaled 200 MT during the period.
Cumulative U.S. soybean oil sales were up 200 MT during the reporting period but were down more than 60 percent (12,900 MT) from the corresponding week in 2023. Outstanding domestic soybean oil sales edged down 0.8 percent (200 MT) on the week but were up 23 percent (4,500 MT) from the same week a year earlier.
During the week under review, total U.S. soybean oil commitments moved up just 100 MT. Still, compared to the same week a year ago, this was down about 20.5 percent (8,400 MT).
Figure 1.
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