USDA released soybean supply and demand report in December. The forecast data of U.S. soybean in 2021 / 22 remain unchanged. It is estimated that the sown area of soybean in the United States is 87.2 million acres, the unit yield is 51.2 PU / acre, the output is 4.425 billion Pu (120 million tons), the export volume is 2.05 billion Pu (55.79 million tons), the crushing volume is 2.19 billion Pu (59.6 million tons), and the ending inventory is 340 million Pu (9.25 million tons), which are consistent with the predicted value of last month.
The forecast data of Brazilian soybean in 2021 / 22 remain unchanged. It is estimated that the initial inventory of Brazilian soybean is 27.95 million tons and the output is 144 million tons, an increase of 7 million tons over the previous year; The crushing capacity was 47.7 million tons, an increase of 250000 tons over the previous year; The export volume was 94 million tons, an increase of 12.35 million tons over the previous year; The ending inventory was 28.25 million tons, a slight increase of 300000 tons over the previous year, and all data were consistent with the forecast value of the previous month.
The forecast data of Argentine soybean in 2021 / 22 remain unchanged. It is estimated that Argentina’s soybean inventory at the beginning of the period is 25.06 million tons, and the soybean output is 49.5 million tons, an increase of 3.3 million tons over the previous year; The crushing capacity was 42 million tons, an increase of 1.84 million tons over the previous year; The export volume was 5.35 million tons, a slight increase of 160000 tons over the previous year; The ending inventory was 24.61 million tons, a decrease of 450000 tons over the previous year, and all data were consistent with the forecast value of the previous month.
The global soybean production decreased in 2021 / 22, and the ending inventory decreased. The global soybean output is expected to be 381 million tons, lower than the 384 million tons predicted last month, an increase of 15.55 million tons over 366 million tons in the previous year, which is still a record high; The global soybean demand was 377 million tons, lower than the 378 million tons predicted last month, an increase of 13.99 million tons over the 363 million tons of the previous year. As the increase of soybean demand is lower than the increase of output, the global soybean ending inventory in 2021 / 22 is 102 million tons, lower than the forecast of 104 million tons last month, but an increase of 3.97 million tons compared with 99.81 million tons last year.
Source: USDA
Post time: Dec-15-2021