NAPERVILLE, Illinois, Dec 10 Reuters Phenomenal export sales for U.S. corn and soybean oil as of late forced the U.S. Department of Agriculture on Tuesday to crank up its 202425 export outlooks.

The result? Recordlow stockstouse for U.S. soybean oil and, against all prior narratives, smaller U.S. corn ending stocks than in the previous marketing year.

There is a chance soyoil exports must increase further despite the historically tight supplies, though the jury is still out on corn.

SOYOIL SURGE

U.S. soybean oil sold for export in 202425 totaled 416,356 metric tons as of Nov. 28, an eightyear high for the date. The marketing year began Oct. 1.

At least another 30,000 tons were sold last week, rendering USDAs November peg of 202425 exports far too low at just 272,000 tons.

That forecast surged a whopping 83 in Tuesdays update to 499,000 tons 1.1 billion pounds, a threeyear high though well below the decade average.

The known sales already account for at least 90 of this target. Between 2014 and 2021, an average of 40 of the annual export volume was sold by the start of December.

While it may seem USDA took an overly conservative approach to the U.S. soyoil export boost, it could also imply that the agency expects the rare price discount of soybean oil versus rival palm oil to be relatively shortlived.

The palm oil production squeeze and subsequent price rally has been seen as a boon to soyoil exporters, but tight inventories could limit further upside to U.S….