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AMIS Market Monitor

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.