USDA raised its forecast for the soybean crop in 2017 - 2018.

14 Aug, 2017
USDA raised its forecast for the soybean crop in 2017 - 2018.
USDA raised its forecast for the global soybean crop in 2017-2018, by 2 million tonnes to 347.36 million tonnes, by 4.34 million tonnes more than in the current season.

The US soybean crop estimate was raised by +3.3 million tonnes to 119.23 million tonnes and 117.2 million tonnes in the previous season. There are declines are for India and Canada.

 

Global export of soybean in the new season will reach 151.2 million tonnes (149.6 and 144.9), incl. for the United States to 60.5 million tonnes (58.5 and 58.5).

 

Global ending stocks of soybean in 2017 – 2018 increased by 3.6 million tonnes to 36.7 million tonnes, which is 1.2 million tonnes more than 2016-2017. Growth is at the expense of Argentina, Brazil, China, the US and the EU.