Weekly Decline in Soybean Cake and Meal Sales; Soybean Oil Exports Drop Sharply

MUMBAI, 3 Oct (Commoditiescontrol): In the latest USDA report, soybean cake and meal sales for the week saw net reductions of 40,700 metric tonnes (MT) for 2023/2024, a marked shift from the previous week’s net gains.

The sales were largely impacted by reductions from key buyers such as Panama (30,900 MT) and Honduras (18,300 MT). However, new sales for 2024/2025 provided some optimism, with net sales of 228,600 MT primarily to Guatemala (72,200 MT) and Panama (51,400 MT).

Despite the drop in net sales, exports for the week stood at 230,200 MT, a 13% decline from the previous week, but still 13% higher than the prior 4-week average. Major destinations included Colombia (79,300 MT), the Philippines (47,500 MT), and Mexico (29,900 MT).

Compared to the previous week, the report highlights a notable reversal in net sales for 2023/2024, with significant cancellations outweighing the new orders, while sales for the upcoming marketing year provided a stronger outlook.

Soybean oil sales also experienced a sharp drop, with net sales of just 500 MT for 2023/2024, down 49% from the previous week and a staggering 96% from the prior 4-week average. Most sales came from Canada (1,000 MT), which was offset by reductions in Mexico (500 MT). On the positive side, net sales for 2025/2026 totaled 30,800 MT, led by South Korea (20,000 MT) and Colombia (9,800 MT).

Exports of soybean oil dropped by 58% compared to the previous week, reaching just 2,600 MT, with the main destinations being Canada (2,300 MT) and Mexico (300 MT). This marked a significant 83% decline from the prior 4-week average, indicating a softer demand outlook in the near term.

The latest report reflects a significant downturn in both soybean meal and oil sales compared to the previous week. Soybean cake and meal saw a notable shift from positive net sales to reductions, while soybean oil sales dropped by nearly half. Despite these reductions, exports of soybean cake and meal remained relatively robust, up 13% from the 4-week average. In contrast, soybean oil exports were down sharply, signaling potential challenges ahead for the market.

This week's performance indicates that while future sales for the next marketing year show promise, current demand has softened, particularly for soybean oil, where both sales and exports saw considerable declines.

(By Commoditiescontrol Bureau; +91 98201 30172)