US soybean exports up 11.2% since start of season

Since the beginning of the season and as of May 1 of this year, the total volume of soybean exports from the United States reached 43 million 461 thousand tons, an increase of 11.2% year-on-year. Last week, it increased by 11.3% year-on-year, and two weeks ago – by 10.9%, according to the Chinese national analytical agency SunSirs, citing the report of the US Department of Agriculture on export inspection.

At the same time, the volume of soybean exports from the United States last week decreased by 29% compared with the week before and by 10% compared with the same period last year, amounting to 324 thousand tons compared with the revised 457 thousand tons last week and 358 thousand tons for the same period last year.

So far in 2024/25, U.S. soybean exports have reached 87.5% of the annual export target, up from 86.8% last week.

Earlier, it became known that a number of countries announced their desire to buy more U.S. soybeans as they seek to reduce the rate of tariffs imposed by the U.S. administration. The Philippines, Indonesia, Japan and Pakistan have already announced an increase in soybean supplies.

Tags: export, soybean, USA