US soybean oil sales and exports declined for a second straight week, with sales falling to a marketing-year low in the week to February 6. Domestic soyoil exports were down by 20% on the week to a total of 38,400 tonnes, USDA figures released on Thursday February 13 showed.
Meanwhile, USDA reported a net soybean oil sales reduction of 2,800 tonnes for 2024/25 for the week, down from a net increase of 48,100 tonnes previously. In the week to January 23, US net soybean oil sales hit a 2024/25 marketing-year high of 103,600 tonnes.
Sources had expected the market would see a drop-off in US exports due to improvements in South America’s export basis premium on soyoil earlier in January. However, in the last week, Argentina’s soybean oil basis premium increased again, and this could boost shipments out of the US through at least March, trading sources said.
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