last release: October 2020
Supply & Demand
2019/20 | 2020/21 | ||
|---|---|---|---|
estimate | 3 Sep | 8 Oct | |
Production | 339.3 | 374.9 | 370.8 |
Supply | 402.6 | 425.6 | 428.3 |
Utilization | 356.0 | 370.3 | 369.5 |
Trade | 165.1 | 163.7 | 165.8 |
Ending Stocks | 57.8 | 53.0 | 58.0 |
in million tonnes | |||
- Soybean 2020/21 production lowered from last month, with reduced forecasts for the US and Argentina outweighing an upward revision for Brazil, while global output would still be record-high.
- Utilization in 2020/21 trimmed somewhat, with downward adjustments for Argentina and the EU largely offset by higher forecasts for the US and several other countries; global consumption now forecast to grow by nearly 4 percent y/y.
- Trade in 2020/21 (Oct/Sept) slightly higher compared to September, as import forecasts are lifted for China and a couple of other countries, while shipments are raised primarily for Brazil.
- Inventories (2020/21 carry-out) scaled up, mainly reflecting higher forecasts for China, Argentina and Brazil, which overshadow a downward revision for the US.