IGC estimates high soy harvest

IGC: new June 2015 estimate of the world harvest of soybeans by 2015/16

The monthly crop estimate of the International Grains Council (IGC) for the soy sector deviates only marginally as a result from the may estimate, but it contains some new interesting findings.

The global soya crop of IGC with 316 million tonnes to the last may estimate unchanged left.  World consumption should be around 1 million tonnes higher than in the may issue.

The result of production by approximately 5 million tonnes compared to last year's bumper crop will be lower. However, the consumption is classified up to 9 million tons. The high overlapping stocks provide the necessary balance. The global supply is still above the multi-annual average.

The results of the most important production and consumption areasare interesting. The Argentinian harvest in early summer by 2015 was set finally to 61 million tonnes (previous year 53.4 million metric tons). Also the Brazilian harvest reached 96 million tonnes (previous year 86.1 million t) record. Paraquay lies with 8.6 million tonnes in the upper midfield. From South America with 165 million tonnes more than half of world production will be in the upcoming autumn 2015 soya crop in the United States despite foreseeable cuts of the sowing area and possible weather related damage of Flächenerträge further to nearly 105 million tonnes (previous year 108 million tonnes) estimated.

On the consumption side stands China with 87 million tonnes or more than a quarter of the world crowd at the forefront. To approximately 75 million tons are introduced at low domestic production soybeans per year.  The annual growth rate was 3 to 5 million tons in recent years.

To be expected for the current year is still high risks because of the El Nino weather phenomenon.  The present estimation results are subject to harvest not yet foreseeable, impairments in the autumn 2015.  The South American crops are, however, already finalised.

Soybean prices have ended their month-long trip and started a turnaround . The weather- and prevented order work in the United States are an essential driving force

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