Lang
US soybean crushing hit a fresh record of 5.57 million tonnes in July (up from 5.36 million tonnes the previous month), an increase of 0.31 million tonnes compared with the same period last year, according to a report by Oil World (Germany).
Amid restrictions on soybean imports into China, the primary market for US soybeans, the crushing industry has continued to post record oilseed processing figures. Since the start of the year, US soybean exports to China have fallen by 51%.
Since the start of the 2024/25 season, US soybean crushing has reached 61.15 million tonnes, compared with 57.64 million tonnes over the September-to-July period of the 2023/24 season.
It was also reported that over the past three months, US exporters have offset the loss of the Chinese market by boosting soybean supplies to other destinations, reaching their highest level in three years. Between June and August, 5.2 million tonnes were shipped from the United States, with a sharp rise in exports to Mexico, Egypt, Taiwan, Vietnam and European Union countries.
US soybean oil stocks fell to 850,000 tonnes, compared with 859,000 tonnes the previous month and 911,000 tonnes at the end of July 2024, marking their lowest level in twenty years.