USDA raised its forecast for global production of soybean

14 Sep, 2017
USDA raised its forecast for global production of soybean
According to the September report of USDA, global production of soybean in 2017 – 2018 will reach 348.4 million tonnes by 1 million tonnes over the August forecast but by 3 million tonnes below the 2016-2017 figure.

Soybean crop in the United States increased again to 120 million tonnes (119.2 and 117.2).

Global export of soybean rose by 0.23 million tonnes to 151.42 million tonnes, which is 5.1 million tonnes more than 2016-2017. Export growth is for the US with 1 million tonnes to 61.2 million tonnes (59.05).

Global ending stocks in the new season reached 97.5 million tonnes (97.7 and 95.9 tonnes). The indicator has been revised downwards for Brazil and the EU, and raised for Argentina and China.