News

Soybeans: below market expectations, USA sells 263,900 t in 2023/24

Soybean
United States
Market & Price Trends
Published Mar 29, 2024

Tridge summary

The USDA's recent data release on North American soybean and soy product exports for the 2023/24 and 2024/25 seasons reveals that soybean exports for the 2023/24 season, starting September 1st, were lower than expected at 263,900 tons for the week ending March 21st, against analyst predictions of 300 to 700 thousand tons. For the 2024/25 season, exports stood at 120 thousand tons. Soybean meal net sales for the 2023/24 season also fell short of expectations at 127,300 tons, with Turkey being the primary buyer, and the 2024/25 season saw sales at just 1,200 tons. Soybean oil exports for the 2023/24 season met analyst expectations at 6,000 tons, with Colombia being the main destination. These figures indicate a mixed performance in soybean and soy product exports, with some areas meeting or falling short of market expectations.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

North American net soybean exports, for the 2023/24 season, starting on September 1st, were 263,900 tons in the week ending March 21st. For the 2024/25 season, there were 120 thousand tons. Analysts expected exports of between 300 thousand and 700 thousand tons. The information was released by the United States Department of Agriculture (USDA). North American net sales of soybean meal, for the 2023/24 season – which begins on October 1st – were 127,300 tons in the week ending March 21st. Turkey led purchases, with 33,000 tons. For the 2024/25 season, there were 1,200 tons. Analysts expected exports of between 150 thousand and 400 thousand tons, combining the two seasons. The information is from the United States Department of Agriculture (USDA). North American net exports of soybean oil, for the 2023/24 ...
Source: CanalRural

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