As per latest report of United States Department of Agriculture (USDA),global soybean production is up 0.7 million tons to 355.2 million for 2018/19 mainly on higher production for Brazil. A higher trend yield for the 2018/19 Brazil soybean crop reflects harvest and yield results for the 2017/18 crop, which is increased 2 million tons to 119 million. With higher production, soybean exports for Brazil are revised up for both the 2017/18 and 2018/19 marketing years. Ending stocks for Brazil are also increased with higher production and a lower crush estimate for 2016/17. Global 2018/19 soybean ending stocks are increased 0.3 million tons to 87.0 million with higher stocks for Brazil partly offset by lower stocks for the United States and Argentina. Stocks for Argentina are lowered mainly on a 2.0-million-ton reduction to the 2017/18 crop to 37 million.
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