US soybean sales have fallen markedly

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 the same time, experts report that in an unspecified direction, the U.S. sold 625 thousand tons of soybeans with delivery in MY 2024/25. These sales could have been made to China as well.

Tags: export, soybean, USA