Soybean export sales for the 2019/20 marketing year of 495.2 thousand metric tons (TMT), were 149.1 TMT below last week’s total and 36 percent under the four-week average of 777 TMT. New crop sales totaled 607.4 TMT, lifting total sales to 1,102.6 TMT. Combined crop year sales were up 30 percent from last week but within analyst estimates that ranged from 600 to 1,300 TMT. 2019/20 export commitments are 76 percent of the USDA revised forecast and need to average 1,010 TMT per week to meet expectations. Export sales are nine percent below the 2018/19 crop year pace. Major purchases were reported for China, Indonesia, and Egypt.
Soybean meal sales for the 2019/20 marketing year of 558.9 TMT were 431.7 TMT above last week’s total and 300 percent over the prior four-week average of 140 TMT. New crop sales were 25 TMT, lifting total sales to 584 TMT. Combined crop year sales were…
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...