USDA forecast for world soybean meal production reduced
In the June report, the USDA experts lowered the forecast for world production of soybean meal in 2019/20 to 241,51 mmt, 0.21 mmt less than the previous forecast (241.72 mmt).
The June forecast for world soybean meal production in 2019/20 is higher than the production in 2018/19 (236,38 mmt) by 5,13 mmt and by 9,16 million tons more than 2017/18.
The forecast for world soybean meal ending stocks in the future season remained at the level of the previous report — 12.09 mmt. The forecast for world meal exports in 2019/20 was slightly reduced to 68,75 mmt vs. 66,6 mmt in 2018/19.
The world soybean oil production in 2019/20 is expected to reach 57.67 mmt, exports — 11.75 mmt, ending stocks — 3.52 mmt.
Previously it was reported that over the eight months period of 2018/19, soybean exports from Ukraine dropped 29 per cent from the previous year's relevant indicator.