Articles By Leticia Pakulski
Brazilian grain exporters’ association Anec cut its estimate for Brazilian corn, soybean and wheat exports in January but raised its projection for soymeal in its weekly report published on Tuesday January 28.
The Argentine government announced temporary cuts to export taxes, known as retenciones, for soybeans, soymeal, soyoil, sunflower, wheat, corn, sorghum and barley late on Thursday January 23.
The Brazilian Association of Vegetable Oil Industries (Abiove) increased by 1.8% its forecast for Brazil’s soybean production in the 2024/25 crop year to 171.7 million tonnes, with consequent increments in its exports and crushing estimates for 2025, Abiove’s monthly report showed on Tuesday January 21.
Brazil faces local and international policy changes that could reshape the availability of domestic feedstock for the country's biodiesel sector and potentially further reduce soybean oil exports, leading to significant price adjustments as early as the first half of 2025, sources told Fastmarkets.
India has bought more than 80,000 tonnes of soyoil from South America and the United States in the last days of 2024 amid a drop in soyoil prices that widened the gap with competing oils in India, sources told Fastmarkets.
Brazilian grain exporters association Anec cut its estimates for December soymeal exports but raised its projection for corn, soybeans and wheat shipments in its weekly report published on Tuesday December 26.
Brazilian corn exports amounted to 3.32 million tonnes in the first three weeks of December, while 1.35 million tonnes of soybean were shipped in the same period, customs weekly data showed on Monday December 23.
Brazil’s National Energy Policy Council (CNPE) approved a resolution on Tuesday December 10, which establishes minimum targets for the use of waste oils and fats, such as tallow and used cooking oil (UCO), in the production of biodiesel, sustainable aviation fuel (SAF) and green diesel.
The EU and Mercosur — the trade bloc that includes Argentina, Brazil, Paraguay and Uruguay — announced on Friday December 6 the end of negotiations for the free-trade agreement between the blocs, but questions linger about the potential impacts on trade flows of agricultural products.
Net sales of US soyoil fell to 19,500 tonnes in the week ended November 28, down by 84% week on week, but shipments surged after recent strong US sales, the USDA reported on Friday November 29.
Brazil is expected to set new records in the 2024/25 crop year, with soybean output projected at 172.2 million tonnes, exports at 103.4 million tonnes and crushing at 56 million tonnes, data from local consultancy Agroconsult showed on Thursday November 28.
Brazilian corn production is expected to reach 132.7 million tonnes in 2024/25, up by 3.5% from the previous year's crop of 128.2 million tonnes, with the second corn crop (safrinha) sowed area projected at 17.8 million hectares, an all-time high, data from local consultancy Agroconsult showed on Thursday November 28.
US soyoil net sales rose to 124,800 tonnes in the week to November 21, the highest weekly figure since March 2019 and the sixth highest in the USDA historical data that goes back to 1990, the USDA reported on Friday November 29.
US soyoil net sales rose to 21,900 tonnes in the week to November 14, with export premiums for US soyoil falling below their counterparts in Argentina and attracting external demand, especially for nearby destinations.
Brazilian corn exports amounted to 2.8 million tonnes in the first three weeks of November, while soybean shipments totaled 1.5 million tonnes in the same period, customs data showed on Monday November 18.
Brazil’s soymeal exports totaled 2.3 million tonnes in October, up by 24.4% year on year, their highest for October and the third highest in the historical series dating back to 1997, official customs data showed.
President-elect Donald Trump’s victory in the US could bring different outcomes across the soybean complex. A potential trade war with China could have several impacts on global commodity markets, especially beans, with Chinese demand potentially shifting to other origins such as South America, sources have told Fastmarkets.
India intensified its buying of soyoil in the week to Friday November 1, with trade sources telling Fastmarkets that 150,000-160,000 tonnes have been bought since Monday because soyoil is the most competitive vegoils option and the supply-demand balance was looking tighter for the world’s largest importer of edible oils.
Brazilian grain exporters association Anec raised its estimates for soybean exports to 4.63 million tonnes in October, the association said in its weekly report on Tuesday October 22.