Global Soybean production for the 2018-19 season is estimated at the record level of 360.1 Mio Tons, although slightly down (-0.3%) compared to last month forecast, reflecting a lower production decline expected in Brazil (-0.5 Mio Tons), given the dry weather conditions and the lower yields in the States of Minas Gerais, Mato Grosso do Sul and Goias.
U.S. Soybean production is expected at 123.7 Mio Tons. Soybean oil used for biodiesel is raised on record production for the first quarter of the marketing year.
European Union and China are the top destinations of US Soybean. With the entry into force of Chinese duties in July 2018, US exports to China dropped and recorded 8.3 Mio Tons in 2018 (-69% from 2017).
EU Soy import
from the U.S.1,25Mio TonsJan 2019 y-o-y
The first data for 2019, relating to January, confirm the boom in European soybean imports from the US: 1.25 Mio Tons, +184% compared to January 2018, at an average CIF price of € 321.30 / ton.
Source: USDA, IHS, ISTAT