Global soybean production forecast in 2017/18 decreased by 6 MT

The forecast for global soybean production in 2017/18 is reduced by 6.06 million tons to 340.86 million tons.

According to the USDA report, the production of soybean in comparison with 2016/17 (351.32 million tons) will decrease by 10.46 million tons.

It is noted that soybean production by major exporting countries in 2017/18 should amount to 171.4 million tons against 185.78 million tons in 2016/17. Soybean production in Brazil is projected at 113 million tons (2016/17: 114.1 million tons), Argentina — 47 million tons (2016/17: 57.8 million tons) and Paraguay — 9.2 million tons (2016/17: 10.67 million tons).

Reference: in January 2018, 421.19 thousand tons of soybeans were exported from Ukraine for the amount of USD 157.55 million.