US net soybean oil sales and exports dropped in the week to May 30, figures released by the USDA showed on Thursday June 6. 

Net domestic soy oil sales for 2023/24 totaled 6,000 tonnes during the period, down by 41.17% week on week and by 20% from the prior four-week average. 

Sales increases were primarily for Jamaica (3,500 tonnes), Canada (1,700 tonnes, including 100 tonnes of cancellations) and Mexico (700 tonnes, including 10,200 tonnes of cancellations). Soybean oil sales for 2024/25 totaled 3,500 tonnes and were for Mexico.

The US exported 1,400 tonnes of soybean oil for 2023/24 during the week, down by close to 90% week on week and by 85% from the four-week average. The largest buyer was Mexico at 900 tonnes.

…