The global soybean crop in 2018-19 will grow by 6% to a new record of 358.8 million tons, calculated at the International Grains Council (IGC).
According to forecasts of IGC analysts, world consumption of this crop will also increase to a record level of 356m tons. However, the growth rate of world demand will be lower than previous seasons against the background of the expected reduction in imports from China (up to 97.5m tons). But the import of soybeans in the EU will grow from 13.5m tons to 14.5m tons. According to IGC, world stocks of soybeans at the end of 2018/19 season will increase to 44.4m tons (+ 6% per year). This will happen mainly due to the increase in stocks in the US to a 12-year high. Also, soybean stocks in Argentina are expected to grow (+ 14% per year). Reserves in the PRC, on the contrary, will be reduced by 20%.
Source: Sphere Publishing House.
