Oilseeds News, 13.03.2025

On Wednesday, soybeans experienced a decline of 9 to 11 cents in most of the leading futures at the close of trading. Soymeal futures also slipped, falling $1.70 to $2.50 per metric ton. Soybean oil futures were also weaker, joining the bearish sentiment. Concerns about the introduction of retaliatory tariffs by the EU are growing. These tariffs, which are being imposed as a result of President Trump's steel and aluminum tariffs, are due to come into force at the beginning of April and will also affect soybeans. The USA has already delivered 4.5 million tons of soybeans to the EU this marketing year. The publication of the weekly USDA report on export sales is imminent. Estimates for soybean exports in 2024/25 range from 275,000 to 700,000 tons, while new crop sales are estimated at 0 to 100,000 tons. Exports of soybean meal are also expected to range between 190,000 and 410,000 tons and soybean oil between 40,000 and 85,000 tons. In addition, Stats Canada's cultivation plans were published this morning. These show that producers are expected to plant 21.65 million acres of canola this year, a decrease of 1.7% compared to last year. Soybean acreage is estimated at 5.64 million acres, down 1.37% from last year. According to media reports, strikes in oilseed processing have begun in Argentina and continue to be the dominant issue there. Employees of the Vicentin Group are said to be walking off the job after the company only paid 30% of the agreed wages. Argentina is the world's largest exporter of processed soybeans.