last release: 7 March 2024
Supply & Demand
2022/23 | 2023/24 | ||
---|---|---|---|
estimate | 1 Feb | 7 Mar | |
Production | 374.6 | 395.5 | 392.3 |
Supply | 419.7 | 438.8 | 436.6 |
Utilization | 367.2 | 388.6 | 387.3 |
Trade | 171.6 | 168.2 | 167.1 |
Ending Stocks | 44.3 | 49.0 | 48.7 |
in million tonnes |
- Soybean 2023/24 production trimmed, primarily reflecting a further downward revision for Brazil, while the forecast for Argentina was also reduced somewhat due to unfavourable dry conditions.
- Utilization in 2023/24 lowered across a number of countries amid reduced supplies, yet the global consumption is still expected to expand by 5.5 percent from the previous season.
- Trade in 2023/24 (Oct/Sep) scaled down marginally on smaller export forecasts for Brazil and the US, while import expectations were lowered for China and the Russian Federation.
- Stocks (2023/24 carry-out) virtually unchanged, as downward revisions for Brazil and the Russian Federation were mostly compensated by expected stock accumulation in the US.