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Balanced Reporting. Trusted Insights.
Sunday, September 26, 2021
When it comes to producing soyoil for the rapidly emerging renewable diesel market, the industry is adamant that it can expand without the kind of food-versus-fuel criticism from the general public that has plagued biofuels in the past.
China’s not yet buying new crop soybeans from the U.S. as fast it did at this time last year, but U.S. sales are still historically strong and increasing quickly in August.
There are still a lot of Brazilian soybeans filling up China's port stocks, and that’s expected to continue for at least another month. But the Chinese are not waiting to commit to buying up U.S. soybeans for delivery in the 2021-22 marketing year, according to analysts and USDA data.
The nation’s corn pile is shrinking but soybean ending stocks are holding steady, according to Friday’s World Agricultural Supply and Demand Estimates report.
U.S. corn and soybean ending stocks are getting tighter as the Department of Agriculture increased exports in Tuesday’s World Agricultural Supply and Demand Estimates report.
The new year got off to a big start for U.S. soybean trade, with sales and shipments to China totaling nearly 2 million metric tons for just the first week in January, according to the latest trade data.
U.S. soybean export sales are unusually strong in January for both the current 2020-21 marketing year and the upcoming 2021-22 marketing year, boosted by China’s efforts to both feed its growing swine herd and replenish stocks.
U.S. soybean future prices are on the rise amid continued Chinese demand and concerns of tight global supplies, putting markets in a “rationing” mode, according to a Cargill executive.
