IGC corrects world soybean harvest 2023/24 - forecast 2024/25 The 2023/24 soybean harvest will be reduced to around 390 million t due to the weather-related adverse harvest in Brazil. Consumption is reset to a similar extent. This means that the supply situation changes only insignificantly. The IGC has issued a preliminary estimate for the 2024/25 financial year . Global soy production is estimated at around 413 million t (+5%) and consumption at 404 million t (+5%). The two South American countries Brazil and Argentina make a decisive contribution to the increased production. Inventories are expected to increase by almost 13%; This would further improve the supply situation compared to previous years.
