U.S. Soybean Meal Hits 10‐Year High for Export Sales

13.09.2024 07:08 "Agro Perspectiva" (Kyiv) — According to the report of the USDA Oilseeds: World Markets and Trade (September 2024), 2024/25 U.S. soybean meal exports are projected at a record of nearly 16.0 million tons driven by record crush. Higher supplies and competitive prices are further driving the volume of export sales for the new marketing year. As of August 29, 2024, U.S. soybean meal sales for marketing year 2024/25 (Oct‐Sept) have reached a 10‐year high compared to the same period in previous years.

2024/25 sales to Canada, the Philippines, and Colombia remain strong, growing to nearly 1.2 million tons. Canada is the leading destination for exports sales by volume, with a year‐over‐year increase of 76 percent. The Philippines and Colombia have the second and third highest level of sales, followed by

Mexico. Vietnam is an emerging market in the new marketing year, with sales confirmed at nearly 250,000 tons. Colombia has significantly outpaced their

2023/24 purchases; export sales rose from 21,000 to 292,100 tons. The United States is expected to remain the third largest exporter of soybean meal in 2024/25 driven by competitive prices and high stocks, maintaining 21 percent of the global soybean meal market.

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