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Global soybean production in 2024/2025 will increase by 6.3%, according to the USDA

Published May 23, 2024

Tridge summary

The USDA has released a report predicting a 4.7% increase in global oilseed production for the 2024/25 campaign, totaling 566.03 million tons. This increase is primarily due to a 6.3% rise in world soybean production, with Brazil's soybean production expected to reach 169 million tons. Sunflower production is also anticipated to see a slight increase, while global rapeseed production is expected to remain steady.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The American Department of Agriculture (USDA) has released, in its May report, a first estimate of global oilseed production for the 2024/25 campaign. In total, the harvest of the three main oilseed crops (sunflower, rapeseed and soybeans) will amount to 566.03 million tons, 4.7% more than in the 2023/24 campaign (540.17 million tons). According to the first forecasts of the USDA, world soybean production will increase, in the 2024/25 campaign, to 422.26 million tons, 6.3% more than in the 2023/24 campaign (25.3 million tons more ). The increase is mainly due to the increase registered in Brazil, with 169 million tons, 15 million tons more than in the 2023/24 campaign (9.7% more). Regarding sunflower production, the USDA ...
Source: Agropopular
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