The forecast for soybean crops in the US got lowered by 2 million tonnes to 113 million tonnes, which is 4.2 million tonnes below the 2016 record.

If the natural conditions deteriorate, the forecast will be lowered once again.

Export demand for soybeans will not grow and will reach 56 million tonnes at 56.9 million tonnes exported in 2016-2017. Decreased demand will be due to increased competition from South America and reduced demand from China, where large soybeans stocks are now formed.

As a result of this, the ending soybean stocks in the US in 2017 – 2018 will be at record high - 13 million tonnes.