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In the week to March 13, US soybean meal and soybean cake sales fell slightly, while exports increased, the latest USDA figures released on Thursday, March 20 showed.
US 2024-25 soybean meal and cake sales reached 182,200 tonnes, down by 1% on the week and by 20% from the four-week average, but within average market estimates. This compared with 184,800 tonnes the week prior.
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Sales increases were reported for the Philippines (97,500 tonnes, including 45,000 tonnes switched from unknown destinations and cancellations of 300 tonnes), Vietnam (48,100 tonnes), Guatemala (20,500 tonnes, including 13,000 tonnes switched from Panama and cancellations of 200 tonnes), Honduras (16,500 tonnes, including cancellations of 8,600 tonnes), and Colombia (11,400 tonnes, including cancellations of 5,200 tonnes)
The USDA groups undisclosed destinations under the umbrella term “unknown.”
The weekly upticks were offset by cancellations to unknown destinations (21,700 tonnes), Panama (9,700 tonnes), Costa Rica (3,800 tonnes), Belgium (1,100 tonnes) and Cambodia (200 tonnes).
US soybean meal and cake exports were up by 18% in the week to March 13 to 335,400 tonnes from 284,400 tonnes the week prior.
The largest buyers were the Philippines (150,600 tonnes), Romania (40,200 tonnes), Mexico (29,800 tonnes), Canada (25,900 tonnes) and Colombia (22,300 tonnes).
The USDA weekly figures also showed that net US soybean oil sales declined, while exports increased in the period to March 13.
Net 2024/25 soybean oil sales reached 34,200 tonnes, within market estimates, but down by 50% on the week and by 15% from the four-week average. This compared with a total of 68,500 tonnes in the prior week.
Sales increases went to unknown destinations (20,000 tonnes), Mexico (5,900 tonnes, including cancellations of 1,500 tonnes), Venezuela (3,500 tonnes), the Dominican Republic (2,500 tonnes) and Guatemala (1,000 tonnes). However, these were offset by reductions of 900 tonnes for Canada.
In the week to March 13, US domestic soybean oil exports climbed by 63% on the week and by 40% from the four-week average to a total of 39,300 tonnes.
Buyers included India (17,000 tonnes), South Korea (12,000 tonnes), Guatemala (5,100 tonnes), Mexico (2,600 tonnes) and El Salvador (1,500 tonnes).