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Global soybean adjustments, production cuts and new records in Brazil

Published Jan 20, 2025

Tridge summary

The Economic Report of the Bahía Blanca Cereal and Products Exchange highlights a slight reduction in global soybean production to a record 424.3 million tons, with a decrease in the stock/consumption ratio to 31.7%. The USDA has lowered its US production estimates by 2%, resulting in a 19% decrease in final stocks. In Brazil, soybean planting is complete on 47.4 million hectares, with a expected record production of 166.3 million tons. In Argentina, 87% of the planned crop is in Normal/Good condition, but the lack of rainfall could lead to yield losses. The local soybean market continues to see a downward trend in prices, while changes in US production and Brazilian weather conditions could impact the global soybean complex. Additionally, corn production estimates and stock/consumption ratios for the US and Brazil are provided, with the USDA expecting a tighter cereal production and a drop in final stocks, while Brazil expects an increase in production due to higher yield productivity.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Economic Report of the Bahía Blanca Cereal and Products Exchange, the monthly USDA report, there has been a slight reduction in global soybean production, placing it at 424.3 million tons, which would still be a record. The stock/consumption ratio also suffered a 3% cut compared to December, falling behind the record of the 2018/19 campaign, at 31.7%. The North American agency has made changes to the United States balance sheet, cutting inter-monthly production by 2%, placing it at 118.8 million tons. Meanwhile, final stocks decreased by 19%, reflected in a drop in the stock/consumption ratio, which would be 8.7%. In Brazil, according to estimates by the National Supply Company (CONAB), planting work has already been completed on the 47.4 million hectares destined for the oilseed, which would imply an increase of 3% compared to the previous campaign. In some states in the Mato Grosso, Mato Grosso do Sul and Bahia regions, harvesting has already begun. For this ...
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