2017/18 soybean production might fall below global consumption
USDA's current monthly report provides the first official forecast for the coming 2017/18 marketing year. It anticipates a slight decline in world soybean output by 1 per cent from the previous year, to 345 million tonnes. Whereas the USDA report projects China to see a 7 per cent rise and Canadian output to grow by even 28 per cent, Brazil is predicted to experience a 4 per cent decline of 3.6 million tonnes to 107 million tonnes. By contrast, USDA forecasts crushing to grow further in 2017/18, by 3.7 per cent from the previous year to 301 million tonnes. Other soybean uses are also estimated slightly higher than 2016/17 at just less than 45 million tonnes. This means that total global consumption would amount to 346 million tonnes. Agrarmarkt Informations-Gesellschaft (mbH) (AMI) calculates that if this forecast were to come true, global soybean production would be more than 1 million tonnes below projected consumption. Accordingly, world ending stocks would fall by 1.5 per cent from 2016/17, to 89 million tonnes.
UFOP - Union zur Förderung von Oel- und Proteinpflanzen e.V.
The Union for the Promotion of Oil and Protein Plants e. V. (UFOP) represents the political interests of companies, associations and institutions involved in the production, processing and marketing of domestic oil and protein plants in national and international bodies. UFOP supports research to optimise agricultural production and for the development of new recycling opportunities in the food, non-food and feed sectors. UFOP public relations aim to promote the marketing of domestic oil and protein plant end products.