last release: December 2018
Supply & Demand
2017/18 | 2018/19 | ||
|---|---|---|---|
estimate | 1 Nov | 6 Dec | |
Production | 341.5 | 371.1 | 369.0 |
Supply | 390.4 | 412.2 | 410.1 |
Utilization | 348.3 | 356.8 | 354.7 |
Trade | 153.2 | 155.6 | 154.8 |
Ending Stocks | 41.1 | 54.2 | 55.3 |
in million tonnes | |||
- Soybean 2018/19 production trimmed marginally, with reductions in the US and the Russian Federation only partially offset by higher forecasts for Argentina.
- Utilization in 2018/19 reduced somewhat, mainly reflecting lower than earlier anticipated forecasts for Brazil, following a brisk export path, as well as China, tied to weakening demand for meal.
- Trade forecast for 2018/19 revised down slightly, underpinned by smaller than earlier expected imports by China.
- Stocks (2018/19 carry-out) raised further, with upward revision in the US outweighing reductions in other countries. Global inventories now forecast to climb by more than one-third y/y.