USDA: forecast for global soybean production is raised by 1 million tonnes.

13 Nov, 2017
USDA: forecast for global soybean production is raised by 1 million tonnes.
In its November report, USDA raised its forecast for global soybean production in 2017/18 by 1 million tonnes compared to the September estimate to 248.88 million tonnes, by 2.37 million tonnes less than 2016/17.

Growth is expected in Brazil  - 108 million tonnes (107 and 114.1), but there is decline for the US, the estimate is down to 120.44 million tonnes (120.58 and 116.92).

Global oilseed export in 2017/18. was raised by 2 million tonnes to 152.43 million tonnes (150.97 and 147.66), incl. for Brazil up to 65 million tonnes (64 and 63.14) and Paraguay million tonnes (5.5 and 6.6).

The estimate for the global soybean ending stocks was raised by 1 million tonnes to 97.89 million tonnes (96 and 96.3). Stocks in Argentina will be 37.55 million tonnes (37.13 and 36.5), Brazil 22.26 million tonnes (21.96 and 24.76) and the United States 11.57 million tonnes (11.71 and 8.2).