U.S. soybean oil exports for the 2023/24 marketing year were down 40 percent on the week to 300 tonnes (MT), a marketing-year low, the USDA’s Weekly Export Report released on February 8 showed. The buyer was Canada.
Net domestic soybean oil sales increased more than 16 percent on the week but were down from the four-week average. Increases were primarily for Mexico (1,000 MT – late) and Canada (100 MT). Total net sales of 100 MT for 2024/2025 were for Canada.
Cumulative U.S. soybean oil sales for the 2023/24 marketing year were up more than three percent on the week but were down about 63 percent (15,800 MT) from the corresponding period in 2023. Outstanding domestic soybean oil sales were up four percent (1,000 MT) week on week to 25,200 MT. This total was up seven percent (38,500 MT) on the year.
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