USDA: Soybean supply and use projections for 2021-22 unchanged from November

Published 2021년 12월 11일

Tridge summary

The US Department of Agriculture kept all supply and use projections for US agriculture unchanged in its recent report, including the soybean yield forecast of 51.2 bu/acre and production estimate of 4.425 billion bushels. Crush, export, and ending stocks projections were also unchanged. However, Platts Analytics predicts higher production and crushing figures, with a slightly lower season-average soybean price. Soybean meal production and ending stocks, as well as soybean oil production, were also steady according to the USDA, but soybean oil prices remained unchanged at 65 cents/lb despite a higher extraction rate leading to increased production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The US Department of Agriculture has kept all US supply and use projections unchanged from November estimates, it said in its World Agriculture Supply and Demand Estimate report released Dec. 9. The US soybean yield forecast for the 2021-22 marketing year (September-August) has been estimated at 51.2 bu/acre, steady on the previous estimate in November, S&P Global Platts Analytics forecast the MY 2021-22 soybean yield at 51 bu/acre, steady on the year. The USDA set the production estimate at 4.425 billion bushels, up 209 million bushels year on year, while Platts Analytics is looking at 4.5 billion bushels. The USDA sees the US soybean crush for the MY 2021-22 at 2.190 billion bushels, unchanged from the November estimate, while Platts Analytics sees it at 2.250 billion bushels. Soybean exports have also remained unchanged from the previous estimate at 2.050 billion bushels, the report said. Similarly, 2021-22 ending stocks were projected at 340 million bushels, steady on the ...

Source: Hellenic Shipping News