last release: July 2022
Supply & Demand
2021/22 | 2022/23 | ||
|---|---|---|---|
estimate | 2 Jun | 7 Jul | |
Production | 350.3 | 390.4 | 387.5 |
Supply | 401.1 | 430.2 | 426.5 |
Utilization | 367.3 | 377.8 | 377.3 |
Trade | 155.0 | 166.7 | 166.8 |
Ending Stocks | 39.0 | 51.0 | 48.3 |
in million tonnes | |||
- Soybean 2022/23 production lowered marginally m/m with a downward revision in the US more than offsetting a higher projection for Brazil, while global output is still forecast to rebound sharply y/y to a record high.
- Utilization in 2022/23 trimmed on lower forecasts for the US and China, entailing a 2.7 percent y/y recovery following an exceptional contraction in 2021/22.
- Trade in 2022/23 (Oct/Sep) left unchanged m/m, with reduced export prospects from the US compensated by higher shipments from Brazil.
- Stocks (2022/23 carry-out) scaled down moderately, mainly reflecting reductions in the US. Although global ending stocks are seen rebounding by more than 20 percent y/y, the stocks-to-use ratio would remain below the 5-year average.