US net soybean oil exports surged to a fresh marketing-year high during the week ending March 28, reaching 13,300 tonnes, the USDA’s Weekly Export Report released on Thursday April 4 showed. The export figure was up 71% from the week prior. Top buyers were Venezuela (4,000 tonnes), Jamaica (3,500 tonnes), Mexico (2,600 tonnes), and Colombia (2,500 tonnes).

Over the same period, domestic net soybean oil sales for 2023/24 totaled 3,100 tonnes, down 48% from the prior week and down 74% from the four-week average. Increases in sales were primarily for Mexico (2,300 tonnes) and Canada (700 tonnes).

…