IGC increased estimate of soy crops 2016/17 - Soy prices under harvest pressurethe International Grains Council (IGC) estimates this year's soybean harvest again later on around 329 million tonnes, approximately 4 million tonnes more than in the previous month. 315 million tonnes were harvested in the previous year, compared with before the result amounted to 320 million tonnes. This year's production volume is on course for record, as long as the U.S. crop holds that what has been promised. The IGC estimates the U.S. soy crop on cautious 113 million tonnes, while the USDA came beginning Sept. 16 to about 114 million tons . The harvesting by the rainy weather delayed record going full speed. Favourable weather conditions in the U.S. soy belt are predicted for the next few days and weeks. The first threshing results provide promising Flächenerträge. The South American crops in the spring/early summer 2016 have remained below expectations. Brazil luck came only on a lot of 95.4 million tonnes instead of the expected 100 million t in disguise had Argentina with a score of 58.8 million t. flooding in the lower elevations of the cultivation had let fear initially disastrous results, but the compensation came from the higher elevation areas, which could well use the abundant rain. For the upcoming Brazilian harvest in spring orders of magnitude are predicted repeatedly over 101 million tonnes . However, there is still a tough competition between expensive corn and rather low soy prices. Sowing for the main fruit growing mainly begins in October of the year. Until the harvest, many risks to overcome are. For Argentina , it is a significant impact on the handling of export taxes . For wheat and corn, the duties are basically eliminates while for soya the promised reductions has not yet continued. In any case, the soybean in Argentina is restricted in favour of wheat and maize cultivation. The estimate for the Argentine soybean crop runs on 56 million tons beyond. State subsidies to the Chinese farmers for the cultivation of soybeans instead of corn has already shown achievements. China's soybean harvest is estimated at 13.1 million tonnes instead of 11 million tonnes. Thus the annual demand increase in soya import is certainly be throttled. The stock prices for soybean meal are below the mark of $300 per sht (equivalent below 300 €/ month) please. Additional but limited price declines could be expected given the upcoming supply pressure from the ongoing U.S. crop. However, the risk should not low are appreciated by unforeseen events. In the month of may 2016 provides a vivid example of the price boom, how quickly prices can turn into the opposite.
