USDA reduced the forecast of world production and reserves of soybeans

on Friday, the USDA published an updated, more rigid balance world production and consumption of soybeans in 2018/19 Mr.

compared with the December report, the forecast of world soybean production is reduced by 8.2 million tonnes to 361 million tonnes. Due to prolonged drought reduced the estimate of soybean production for Brazil at 5 million tons, Argentina – 0.5 million tons, Paraguay and Uruguay. For the US crop estimate was reduced by 1.5 million tons.

the Forecast of world consumption of soybeans decreased by 3.4 million tonnes to 304,8 million tons USA this season be undone, 60.3 million tons of soybeans that will yield the previous estimate, but will remain at a record high level.

Due to a decrease in the export potential for Brazil, Paraguay and Uruguay, the estimate of world soybean exports was reduced by 1.7 million tonnes to 154,4 million tons To the same level reduced the forecast of world imports, primarily due to the decrease in demand for soybeans from China. Meanwhile, Russia will increase imports of soybeans in comparison with the previous season by 10% to 2.45 million tons.

Assessment of carryover stocks of soybeans decreased compared with the December forecast of 8.6 million tonnes to 106.7 million tons, which is 9% higher than in the 2017/18 season.