Eduardo Tinti

A state auction offering large soybean volumes previously scheduled for Tuesday November 12 has been delayed or canceled in China – although this has not yet been officially announced- sources told Fastmarkets.

Chinese state agencies held an auction for imported soybeans on Thursday December 14, where 89,896 tonnes of soybeans were offered but no sales were made, sources have told Fastmarkets.

Chinese state agencies will hold an auction for imported soybeans on Thursday November 21, offering around 90,000 tonnes for sale, according to a note released by the National Grain Trade Center (NGTC) on Tuesday November 19.

Chinese state agencies held an auction for imported soybeans on Thursday November 21, where 89,895 tonnes of soybeans were offered with 6,716 tonnes sold at a 7.5% clearance rate.

US weekly net sales of wheat for the 2024/25 crop year totaled 366,800 tonnes during the week to November 21, down by 33% from the previous week, the USDA said on Friday November 29.

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.

Market participants expect little changes to US soybean ending stocks when the USDA updates its World Agricultural Supply and Demand Estimates (WASDE) report on Tuesday December 10, a Fastmarkets’ poll with seven traders and analysts showed.

The EU and Mercosur — the trade bloc that includes Argentina, Brazil, Paraguay, Uruguay, Venezuela and Bolivia — announced on Friday December 6 the end of negotiations for the free-trade agreement between the blocs, but questions still linger about the potential impacts on trade flows of agricultural products.

Futures across the soy complex in Chicago reacted mildly to the USDA World Agricultural Supply and Demand Estimates (WASDE) report released late in the session on Tuesday December 10, with little changes to global balance sheets and an anticipated increase in US soyoil export figures.

China’s soybean imports for January shipments have been relatively sluggish due to multiple factors including de-risking strategies considering potential tariffs under a second Donald Trump administration in the US and a bumper crop, which is expected to be harvested in South America, sources told Fastmarkets on Monday December 16.