Soybean Meal Exports

Late December U.S. soybean Meal sales for the current season totaled 5.5 million tonnes compared to 6.8 million tonnes at the same point last season. This scatter study uses late December sales as a barometer of crop year exports. The USDA’s December forecast (marked in red) is on the very optimistic side but not out of range from historical experience.

The USDA’s December U.S. soybean meal balance forecast a 350 thousand ton cut in 2019/2020 crop year meal exports.