USDA raised its forecast of soybean production in the season 2016/17 MG
In the September USDA report, the experts further 20 thousand tons of improved forecast world production soy in season 2016/17 MG. Record gross harvest will be 330,43 million and significantly exceeds that of the previous season, when it was collected 312,97 million.
Assessment of soybean production increased for the United States with 114,33 to 110,5 million tons against last year 106.93 million ton and China – from 12.2 to 12.5 million tons against last year's 11.6 million ton. Brazil will collect 101 million tons, and not 103, as predicted a month ago, even though it exceeds the end of 2015/16 at 96.5 million. For India, the forecast was reduced from 11.4 to 9.7 million tons against last year's 7 million tons, and Canada – from 6.25 to 5.83 million tons, against 6.24 million ton the previous season.
Evaluation world exports soybean reduced from 138,97 to 138,23 million tons, which is still higher than the rate in 2015/16 133,09 million. The export forecast for Canada is reduced from 4.15 to 3.85 million tons, which is significantly less than last year's 4.26 million ton and Brazil to 59,7 58,4 million tons, which will still exceed 55.5 million ton the previous year. USA will not collect 53.07 million tone, as planned in August, and 54,02 million tons, far exceeding last year 52,8 million.
Forecast world stocks soy in season 2016/17 MG increased with 71,24 to 72.17 million tons, which yields the indicator, which by the end of 2015/16 should be of 72.9 million.
the Price of soybeans is not particularly react to the decrease in production in the world in connection with the early harvest and high yields in the United States. On the Chicago exchange soy for two days decreased from $355-360 up to $347,25. in Ukraine, the price of soybeans in dollars remain at the level $360-365 delivery to the port, although in local currency the price rose to 11250-11350 UAH/ton, and the processors offer 10800-10900 UAH/t with delivery to the plant.