Global soybean production forecast in 2019/20 reduced
In the May report, the USDA experts lowered the forecast for world soybeans production in 2019/20 to 355.6 million tons vs. 362 million tons in the current season, the APK-Inform consultancy reports.
By the report, a decrease in the bulk oilseed yield is expected in the following countries:
- the U.S.A. — up to 112.9 million tons (123.6 million tons in 2018/19);
- Argentina — up to 53 million tons (56 million tons);
- India — up to 10.9 million tons (11.5 million tons);
- Canada — up to 6.3 million tons (7.3 million tons).
However, experts project the production increase in Brazil up to 123 million tons (117 million tons in 2018/19), China — up to 17 million tons (15.9 million tons) and Paraguay — up to 10.2 million tons (9 million tons).
“The forecast for world soybean exports in 2019/20 was increased to 151.1 million tons, which is slightly higher from the figure expected by the end of the current season (150.3 million tons). In particular, the estimate was increased to 53 million tons (48.3 million tons in 2018/19) for the United States, for Argentina — to 7 million tons (6.3 million tons) and Paraguay — to 6.2 million tons (5.6 million tons). However, the forecast for Brazil was reduced to 75 million tons (78.5 million tons) and Canada — to 4.2 million tons (5.4 million tons),” the report states.
The world soybean end stocks in the next season have been slightly reduced to 113 million tons vs. 113.1 million tons expected in the current marketing year. Experts forecast a decline in reserves in Argentina to 28.6 million tons compared to 30.9 million tons in the current season, as well as in the U.S.A. — to 26.4 million tons (27 million tons), while an increase in this indicator is expected in Brazil to 27.7 million tons (26 million tons) and China — to 22.3 million tons (22.1 million tons).
In the current marketing year, soybean processing volumes in Ukraine have significantly increased.