last release: December 2020
Supply & Demand
2019/20 | 2020/21 | ||
|---|---|---|---|
estimate | 5 Nov | 3 Dec | |
Production | 339.4 | 368.0 | 366.4 |
Supply | 402.6 | 424.7 | 423.0 |
Utilization | 360.3 | 369.8 | 373.0 |
Trade | 169.1 | 166.9 | 168.2 |
Ending Stocks | 56.9 | 54.4 | 49.4 |
in million tonnes | |||
- Soybean 2020/21 production trimmed slightly m/m; global output is still expected to reach a historic record.
- Utilization forecast for 2020/21 lifted, now pointing to a y/y expansion in global consumption of 3.5 percent.
- Trade in 2020/21 (Oct/Sept) raised somewhat, as stronger import demand from the EU and a number of smaller countries is seen outweighing a lower (though still record-high) forecast for China; world trade is now projected to contract fractionally y/y.
- Inventories (2020/21 carry-out) scaled down further, mainly reflecting downward revisions for the US, China and Argentina; with the latest revisions, global ending stocks would fall to a seven-year low.