US Soybean Exports – 11/18/2021

The US had sold 1.27 billion bushels of soybeans by mid November compared to 1.9 billion bushels at the same time the previous year. Mid November soybean sales to China totaled less than 700 million bushels compared to more than a billion bushels at the same time a year ago. Whether China is forced back into the US soybean market this crop year and to what extent depends on the outcome of the 2021/2022 South American soybean crop year. 

We have scattered crop year US soybean exports as a function of Mid November sales . Note the USDA ‘s current crop year forecast (marked in brown and labeled 2022)  is on the high side of previous years suggesting USDA expects China to be back in the US market but  not to the extent of a year ago or 2020 That slow sales assumption could quickly change if South American weather turns unfavorable.