The USDA increased its forecast of soybean production in 2016/17 MG
In its March report, USDA analysts increased the forecast of the world production soybeans to 2016/17 MG to 340,79 million tons against 336,62 million tons of the previous forecast and 312 million tons of last season.
the Overall balance increased mainly due to Brazil, the crop for which increased by 4 million tons to 108 million tons, 11.5 million tons will exceed the end of the season 2015/16.
Forecast world exports soybean increased by 1 million tons to 141,1 million tons against 132,13 million tons the previous season. Export potential is increased relative to the February report for Brazil by 1.5 million tons to 61 million tons and Paraguay 0.1 million tons to 5.4 million tons against last year 54.38 million tons and 5.2 million tons respectively. For the United States estimate exports reduced by 0.68 million ton to 55,11 million, which still exceeds 52,69 million 2015/16.
Evaluation ending inventory of soy in the world increased by 2.44 million to 82.82 million tons, which is much more 76.59 million tone of season 2015/16. Most inventory forecast raised for Brazil of 1.42 million tons to 20.8 million tons (as against 18.05 million ton the previous season), China – 0.7 million to 15.56 million tons (compared to 16.91 million tonnes), USA – 0.4 million to 11.84 million tons, significantly higher than last year's figure 5.35 million.