The USDA increased the forecast of world soybean production in 2016/17 MG
In its October report, USDA analysts increased the forecast of the world production soybeans to 2016/17 MG with respect to the previous balance to 2.79 million tons to 333,22 million tons, up 20.2 million tons will exceed indicators of last season.
Balance is increased:
- the United States to 1.85 million t to 116,18 million tons against last year 106.86 million tons,
- Brazil by 1 MMT to 102 MMT vs. 96.5 million tons last year,
- Canada 0.17 million MT to 6 million MT, which will be less than 6.24 million tons of the previous season.
Evaluation world exports soybeans increased by 0.25 million tons to 138,78 million tons, which significantly exceeds the end of the season 2015/16 in 132,54 million. Increased relative to the September report, export forecasts for:
- The United States of 1.09 million tons 55,11 million tons against last year's 52,69 million tons,
- Paraguay 0.35 million tons to 5.3 million tons, which would correspond to the results of the previous season,
- Canada 0.15 million tons to 4 million tons, which is slightly negotiage to 4.26 million tonnes 2015/16.
For Argentina estimate exports are reduced 1 million tons to 9.65 million tons, while in 2015/16 it sold 10.3 million tonnes.
Forecast ending inventory from soybeans increased by 5.19 million tons to 77,36 million tons that will exceed 75.45 million ton the previous season. In particular, the residues increased rating for:
- China by 1 million tons to 13.66 million tonnes, which is significantly lower 16.01 million tonnes 2015/16,
- Argentina 1.73 million tonnes to 30.3 million tonnes, while last year they amounted to 31.4 million tons,
- Brazil by 1.88 million tons to 18.48 million tonnes, which is almost equal to the previous 18.63 million tons,
- The United States of 0.79 million tons to 10.74 million tonnes, almost twice the previous 5.36 million tons,
- EU by 0.07 million tons to 0.89 million tonnes, which is below the 1.01 million MT of season 15/16.