US farmers maintain the US soybean demand expectation in 2021 / 22

According to the supply and demand report released by the U.S. Department of agriculture last Wednesday, the U.S. soybean production in 2021 / 22 was increased by 10 million bushels, from the expected 4.425 billion bushels last month to 4.435 billion bushels, up from 4.216 billion bushels last year.

This month, the USDA maintained its forecast for U.S. soybean consumption, of which the U.S. soybean crushing volume was 2.19 billion Pu, the same as the forecast last month, higher than 2.141 billion Pu last year. Soybean export is expected to remain unchanged at 2.05 billion Pu, down from 2.265 billion Pu last year.

Due to the increase in output, the ending inventory of U.S. soybean increased by 10 million Pu, from 340 million Pu predicted last month to 350 million Pu, higher than 256 million Pu last year.

Source: Master Boyi

Post time: Jan-18-2022