Global Soybean production for 2018-19 is estimated at a record level of 360.6 Mio Tons. The slight increase compared to previous estimates, reflects favorable weather in Brazil, the world’s Soybean biggest exporter, in particular in the Rio Grande do Sul, where the crop is in pod-filling and maturation stages. Soybean production in Brazil for the 2018-19 season is expected at 117 Mio Tons. The production is lower (-4.1%) compared to the previous season.
U.S. Soybean export
to China-35% Jan-Feb 2019 y-o-y
For the European Union, the second world Soybean importer after China, imports are expected to increase by 8.3% compared to the 2017-18 season. In the months of January and February 2019 there is a growth of 1.4% with a significant reduction in imports from Brazil and Canada, more than offset by imports from the United States (+ 147.7% compared to January-February 2018). Spain and Italy are the EU countries that have mainly increased imports from the US, respectively: + 63.9% and + 73.7%.
Source: USDA, ISTAT, IHS