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The forecast of soybeans world production in 2017/18 MY increased to 347 million tons
28 August 2017, 08:45
World soybean production in 2017/18 MY will amount to 347 million tons, which is 2 million tons more than the July forecast.
This is reported by the International Grains Council (IGC).
It is noted that the world soybean production in 2017/18 MY will decrease by 4 million tons compared to 2016/17 MY.
Thus, the world trade of soybeans in 2017/18 MY will amount to 149 million tons, which is 1 million tons more than the July forecast and 6 million tons more than in 2016/17 MY.
The forecast of soybean consumption in 2017/18 MY is increased by 14 million tons (up to 351 million tons) as compared to 2016/17 MY.
Earlier it was reported that world exports of soybeans in June 2016/17 MY exceeded shipments by 1.5 million tonnes in the same month last year and amounted to 13.4 million tons.