Global soybean exports continue to rise in August amid increased demand

Global soybean exports continued to increase in the first half of August – the 5 main oilseed exporting countries increased their shipment volumes by approximately 30% compared to the same period last year. This trend was primarily due to high demand from China, Mexico, Egypt and the EU countries, according to analysts at Oil World (Germany).

In particular, in the period from August 1 to 18, Brazil exported 5.17 million tons of soybeans compared to 4.32 million tons in the same period a year earlier. Shipments of processed oilseed products from the country also increased: soybean meal – up to 1.05 million tons compared to 1.23 million tons last year, soybean oil – up to 95 (88) thousand tons.

Soybean shipments from Argentina in the period from August 1 to 17 increased by 0.5 million tons compared to the first half of August 2024, reaching 760 thousand tons, of which 700 thousand tons were delivered to China and 42 thousand tons to Iraq.

Soybean exports from the United States also increased and reached 1.02 million tons in the first two weeks of August, which is 0.26 million tons more than last year. Soybean shipments from the United States to China were again absent during this period (the 11th week in a row). The main delivery destinations were Egypt and Mexico.

At the same time, soybean exports from Uruguay decreased seasonally, but remained above last year’s level, mainly due to shipments to China.

Tags: soybean