US soyabean imports to rise on low old-crop supply

May 22, 2013

US soyabean futures
US soyabean futures

The United States, traditionally a massive soyabean exporter, is likely to raise soyabean imports this season because of tight old-crop supplies, Hamburg-based oilseeds analyst Oil World said on Tuesday. “We estimate that 0.87 million tonnes, or 32 million bushels, of soyabeans will be imported into the United States in September-August 2012-13, partly from Canada and partly from South America,” Oil World said.

By comparison, US soyabean imports in the 2011/12 season were only 0.46 million tonnes. Tight old-crop supplies after a poor 2012 harvest and brisk exports have supported old-crop US soyabean prices this week. Three additional cargoes of Brazilian soyabeans were sold for shipment to the Unites States east coast last week, Oil World said. “This will somewhat ease the very tight soyabean supplies,” it said. However, US 2012/13 stocks are still likely to fall to 3 million tonnes, or 110 million bushels, from 4.61 million tonnes at the end of 2011/12, Oil World said. Reuters

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