The Grains Council has increased its estimate of the global soybean yield in the 2024-25 agricultural year

The International Grains Council (IGC) has increased its forecast for global soybean production in the 2024-25 agricultural year (measured from the beginning of sowing, which starts in different months in different countries due to climatic conditions - ROSNG) to 413 million tons. This was reported in the organization's April report. A similar assessment was also given in last month's report, which was presented on March 14. Compared to the previous agricultural year, this is 23 million tons or six percent more. The organization's forecast has been increasing since the 2021-22 agricultural year (for comparison, a five-year period is often taken - ROSNG). For example, then it was 357 million tons, in the next year it was already 375, and in 2023 - 2024 - 390. The reason for the general positive adjustment (irrespective of the specific country) is not specified. However, it may be associated with an increase in soybean yields in Latin American countries due to favorable weather ...