The forecasts for soybean production in the world
World soybean production in 2017/18 marketing year will decrease by slightly more than 400.000 t and reach 348.000.000 t. This information is based on the forecasts of the USDA.
The report also says that the main exporting countries will produce almost 177.000.000 t of soybeans. Thus, Brazil will produce 108.000.000 t, Argentina – 57.000.000 t, and Paraguay – 9.400.000 t.
The overall level or production in comparison with the previous marketing year will decrease by 2.850.000 t.
According to forecasts, 152.500.000 t are planned to be supplied to world markets, which exceeds last year’s figures by 5.200.000 t.
According to analysts, the volume of soybean purchase will amount to 150.500.000 t, which exceeds last year’s figures by slightly more than 6 million tons.
Also, it should be recalled that during first two months of the current marketing year soybean exports from Ukraine broke all records and reached 283 thousand tons.
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