Soybean production worldwide is set to grow this year but not fast enough to keep up with demand, so stocks are expected to fall. The price of soybeans has fallen by more than half since the start of last year. But USDA says demand will be higher, at 358 million tonnes. At 358 million tonnes, the volume of soybeans used in processing would exceed the amount of soybeans harvested by around 3 million tonnes. Coupled with the previous year’s figures that could leave stocks five million tonnes down. Most demand comes from China, which is expected to import 103 million tonnes, six million tonnes up from last year.
Soybean production worldwide is set to grow this year but not fast enough to keep up with demand, so stocks are expected to fall. The price of soybeans has fallen by more than half since the start of last year. But USDA says demand will be higher, at 358 million tonnes. Coupled with the previous year’s figures that could leave stocks five million tonnes down. Most demand comes from China, which is expected to import 103 million tonnes, six million tonnes up from last year.