IGC confirmed record harvest in soy

IGC: unchanged high estimation of a bumper soya crop

The investigations of the international of grains Council (IGC) have led to a widespread confirmation of a peak harvest 2014/15 in the soybean sector . The result is prized to 304 million tonnes , approximately 22 million higher than in the previous year. The U.S. Department of Agriculture's estimates at the same height.

The United States with a record harvest of 104 million make the biggest contribution t, approximately 15 million tons higher than the previous year. The South American countries in spring 2015 should be Brazil 91 million t and Argentina 54 Mt harvest. Taken together, that's what maximum results are again. However, there are still significant risks before, because the sowing in South America begins only at the end of Sept/beg. Oct. for the main crop. As two fruit be soybeans end Jan / beg. Feb 2015 grown. While the El Nino weather phenomenon is to survive, although it should To give only a weak variant after the predictions.

Especially the Chinese imports in the Centre of the field of vision at the consumption page . Last year about 70 million tonnes were soya beans shipped to China, rd. 9 million tonnes more than in the previous year. That was a record. China is dependent on 86% of domestic consumption on soybean imports. To come up to the palm oil further imports of oilseeds such as such as rape.

For the upcoming year of the IGC estimates an increase in accordance with other institutes to + 3 million tonnes of soya imports of China's. The reasons are once in the high Chinese inventories and the limited available financial resources for the buyers reported recently.

In the EU , around 1.4 million tons produced soybeans primarily in South-Eastern Europe. Beans import demand is estimated at just under 13 million tonnes. There are also still soy meal imports of just under 20 million tonnes. The importance of the EU for soybean imports will be less and less.  

The global supply situation on the soy sector in the 2014/15 marketing year is far above average . Surplus stocks rise to approximately 38 million tonnes (previous year 29 million tonnes) or about 13% of consumption above the multi-annual average of rd.  10%.

The current rate turbulence on the US stock exchanges for the month of September are a consequence of the extremely tight connection supply for the soybean meal. At the latest with a wide availability of new crop, quieter and significantly lower prices are expected. The dates Oct. 14 and later show already, where soon to go.

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