Specialists of the International Grain Council made public a forecast about the state of soybean production in 2017-2018. The total amount of oilseed crops dropped to 348 million tons. Last month, the same experts predicted a large figure. Last season, the yield was 2.5 million tons more. According to the news agency "Kazakh-Zerno", soybean was collected worldwide in 2015-2016, 315 million tons.
The IGC report for November of this year says that soybean reserves are 45 million tons, which is 2 million tons more than the expected figure. At the beginning of the year, stocks were much lower - 32 million tons.
Experts believe that the total amount of soybean in the world market in this MG will reach 393 million tons. In October, the forecast was more modest at 1.7 million tons. Compared to the previous year, experts' expectations were exceeded by 11 million tons. t, and in the year before last the total amount of world production amounted to 351 million tons.
A total of 153 million tons of soybeans was forecasted in the IGC's November report. In October, the report promised a lower figure of 151 million tons. Last year, the data was more modest by 5.7 million tons.
The need for soybeans is growing worldwide every year. In this season, experts agreed on a mark of 352 million tons. For comparison, last year consumption was limited to 337 million tons, and in the year before 320 million tons.
The November reports say that the carryover balances are planned at around 41 million tons. Last season the reserve was 4 million tons more.