USDA: Prospects for the global soybean production in 2020/21 are worsening

13 Jan, 2021
USDA: Prospects for the global soybean production in 2020/21 are worsening
In their January report, analysts from the USDA lowered their forecast for the global soybean production in 2020/21 to 361 million tons (362 million tons in December and 336.5 million tons in 2019/20).

The soybean production of major producers is estimated at:

  • United States- 112.5 million tons (113.5 and 96.6)
  • Argentina- 48 million tons (50 and 48.8)
  • China- 19.6 million tons (17.5 and 18.1)
  • Brazil- 133 million tons (133 and 126)

The world's ending stocks of soybeans are decreased to 84.3 million tons (85.6 and 95.4), including:

  • Argentina- 25.6 million tons (27.6 and 26.8)
  • United States- 3.8 million tons (4.7 and 14.3)
  • China- 28.6 million tons (26.8 and 26.8)

World soybean exports will reach a total of 166.8 million tons (+0.5 and 165.4).