Global soybean production requirements and ending stocks for 2022/23 are raised slightly
Global soybean production requirements and ending stocks for 2022/23 are raised slightly. On December 9, the US Department of Agriculture released its supply and demand report for December.
USDA predicts that global soybean production in 2022/23 will be 391 million tons, an increase of 640,000 tons from the previous month, an increase of 35.56 million tons from the previous year's 356 million tons;
global soybean demand will be 380 million tons, an increase of 710,000 tons from the previous month. This is an increase of 17.5 million tons from the previous season's 363 million tons.
Global soybean ending stocks were 103 million tons, an increase of 540,000 tons from the previous month, and an increase of 7.21 million tons from 95.59 million tons in the previous year.
U.S. soybean data for 2022/23 are unchanged. USDA expects 2022/23 U.S. soybean planted area to be 87.5 million acres (harvested area is 86.6 million acres), soybean yield per acre is 50.2 bushels per acre,
and yield is 4.346 billion bushels (118 million tons). As usual, the December report did not adjust yield and area . The estimated crushing volume is 2.245 billion bushels (61.1 million tons),
the export volume is 2.045 billion bushels (55.66 million tons), and the ending inventory is 220 million bushels (5.99 million tons), all of which are the same as last month.
The US soybean inventory consumption ratio remains at a low level .
Brazil's soybean production in 2022/23 remains unchanged, and ending stocks are slightly raised. USDA expects Brazil's soybean production in 2022/23 to be 152 million tons, the same as last month,
an increase of 25 million tons from the previous year; , the same as last month, an increase of 10.36 million tons over the previous year; due to the increase in the beginning inventory,
the ending inventory followed by an increase of 470,000 tons to 31.71 million tons, an increase of 7.9 million tons over the previous year.
In 2022/23, Argentina's soybean exports were raised, and ending stocks were lowered. USDA predicts that Argentina's soybean production in 2022/23 will be 49.5 million tons,
the same as last month, an increase of 5.6 million tons over the previous year; The special exchange rate policy stimulated exports.
The export volume increased by 500,000 tons from the previous month to 7.7 million tons, an increase of 4.84 million tons from the previous year.
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