USDA reduces production of global soybean stocks

Published 2023년 3월 8일

Tridge summary

The USDA has released a new supply and demand report that has revised down the global soybean production and ending stocks. The global soybean production is now estimated at 375.15 million tons, down from 383.01 million tons, and ending stocks have been reduced from 102.03 million to 100.01 million tons. Brazil's ending stocks have fallen, but exports have been increased. Argentina has seen a reduction in all items compared to the previous report. The United States' soybean production remains the same, but ending stocks have been reduced. China's production and ending stocks have also been revised down.

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

Original content

The United States Department of Agriculture (USDA) released today its new supply and demand report for agricultural products and ended up reducing the prospects for production and ending stocks of soybeans in the world. In this context, the estimate of global soybean production fell from 383.01 million tons to 375.15 million and stocks were reduced from 102.03 million to 100.01 million tons. For Brazil, production was unchanged, but ending stocks fell and exports were revised upwards. Thus, Brazilian corn production should remain at 153 million tons, as in the previous report, with stocks rising from 32.22 million to 31.54 million tons and foreign sales rising from 92 million to 92.7 millions of tons. In the case of Argentina, all items analyzed were reduced in this report, when compared to last month. Going to the numbers, Argentine soybean production is expected to drop from 41 million to 33 million tons, with ending stocks rising from 22.4 million to 19.8 million tons and ...

Source: Agrolink