News

US soybean sales have fallen markedly

Published May 23, 2024

Tridge summary

The article highlights a significant decline in U.S. soybean export sales for the marketing year 2024/25, with figures at their lowest in 19 years at 890.4 thousand tons, which makes up only 1.8% of the USDA's total U.S. soybean export projections for the same period. This is the smallest portion since 1999. Furthermore, the new U.S. soybean crop is expected to approach record levels, yet exporters are struggling to offload new crop stocks, especially to China, marking the first time in 19 years that China has shown no interest in the new U.S. soybean crop. Additionally, 625 thousand tons of soybeans with delivery in MY 2024/25 have been sold, though the destination remains uncertain.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to USDA estimates, as of May 19, export sales of soybeans from the U.S. with delivery in MY 2024/25 are 890.4 thousand tons, which is the lowest in the last 19 years. Experts note that the above sales volume represents only 1.8% of USDA’s projected total U.S. soybean exports for MY 2024/25, the smallest portion in 23 years. At the same time, the future US soybean crop is expected to be close to a record crop, but exporters are hardly selling any new crop. In particular, China’s almost complete lack of interest in the new crop of U.S. soybeans is recorded, which is the first such case in the last 19 years. At ...
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