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.
According to Oil World, in July 2017, soybean meal export from India reached 40,000 – 45,000 tonnes at 23,000 tonnes in July 2016. From the beginning of 2017 soybean meal export reached 1.03 million tonnes at 172,000 tonnes in the same period of 2016.
At the end of July palm oil stocks in Indonesia reached a record high of 1.78 million tonnes - the highest level since April 2016 and with the highest monthly growth since April 2015.
According to China's Customs Head Office, in July 2017, the country imported 10.08 million tonnes of soybeans, which is 30% more than in July 2016. - 7.76 million tonnes and is the maximum monthly level from 2010 until now.
In the last few weeks Chinese importers were constrained to re-sell about 500,000 tonnes of soybeans due to large quantities of soybeans that weren't unloaded from the ships.
