MUMBAI, 12 Sep (Commoditiescontrol): The United States Department of Agriculture (USDA) released its weekly export sales report for the week ending September 5, revealing mixed results in the oilseed sector. Soybean exports showed resilience, but declines were observed in soybean cake, meal, and oil, highlighting ongoing challenges in the global market.
Soybeans:
Net sales of soybeans for the 2024/2025 marketing year, which began on September 1, totaled 1,474,000 metric tons (MT), with China being the largest buyer at 962,600 MT (including 50,000 MT switched from unknown destinations). Other significant buyers included unknown destinations (127,500 MT), Mexico (100,000 MT), Argentina (88,400 MT), and Indonesia (68,300 MT). These gains were offset by reductions in sales to Algeria (45,000 MT), Egypt (2,600 MT), and Colombia (1,100 MT).
Carryover sales from the 2023/2024 marketing year, which ended on August 31, added 953,800 MT, bringing accumulated exports to 44.51 million MT, a 15% decrease compared to the prior year’s 52.21 million MT. Primary destinations during this period included Germany (68,800 MT), Algeria (44,000 MT), Mexico (10,300 MT), Taiwan (8,100 MT), and Indonesia (7,900 MT). On September 1, an additional 314,200 MT of exports were recorded, with shipments going to Indonesia (66,400 MT), Mexico (54,700 MT), China (51,000 MT), Japan (31,300 MT), and Tunisia (29,500 MT).
Export on Own Account:
For the 2024/2025 marketing year, 2,500 MT in new sales were reported for Taiwan (1,500 MT), Bangladesh (500 MT), and Malaysia (500 MT), carried over from the previous year. The current outstanding balance for September 1 was 3,900 MT, with Taiwan, Canada, Bangladesh, and Malaysia as the main buyers.
Soybean Cake and Meal:
The market for soybean cake and meal saw a decline. Net sales for the 2023/2024 marketing year fell by 3,000 MT, marking a notable decrease from both the previous week and the prior 4-week average. Increases for Colombia (11,500 MT), Indonesia (3,500 MT), the Philippines (2,300 MT), and Japan (1,200 MT) were outweighed by reductions for unknown destinations (10,000 MT), Mexico (8,400 MT), Belgium (3,000 MT), and Panama (1,900 MT). Sales for the 2024/2025 year totaled 279,000 MT, primarily to unknown destinations, Mexico, the Philippines, Colombia, and Canada.
Exports of 193,300 MT were down 3% from the previous week, but up 6% from the prior 4-week average. The main destinations were the Philippines (50,600 MT), Canada (44,100 MT), Panama (24,400 MT), Honduras (23,800 MT), and Colombia (23,500 MT).
Soybean Oil:
Soybean oil exports faced headwinds, with net sales for the 2023/2024 marketing year dropping by 500 MT. This decline was driven by reduced demand from Canada (1,300 MT), despite Mexico purchasing 800 MT. For the 2025/2026 marketing year, net sales reached 1,700 MT, with Canada and Taiwan as the primary buyers.
Exports of soybean oil increased by 86% from the previous week to 4,300 MT, primarily destined for Mexico (2,200 MT).
The USDA's latest report underscores the current volatility in the global oilseed market. While soybean sales remain strong, weakening demand for soybean cake, meal, and oil reflects challenges ahead, as global trade adjusts to shifting supply and demand dynamics.
(By Commoditiescontrol Bureau; +91 98201 30172)