Analysts USDA in the May report released forecast of global soybean production 2022/23, after the harvest of Oilseeds may increase significantly – up to 394,69 million tonnes compared to 349,37 million tonnes in the 2021/22 season and 368,12 million tonnes in 2020/21.
In particular, experts predict that the gross soybean harvest in the USA to 126,28 million tons (120,71 million tons in 2021/22), Argentina to 51 million tons (42), Brazil to 149 million tons (125), China to 17,5 million tons (16,4), Paraguay to 10 million tonnes (4,2), Russia to 5,3 million tonnes (4,76 million tonnes) and Uruguay to 2,5 million tonnes (2).
At the same time, analysts expect oil production in Ukraine to decrease to 2,3 (3,8) million tons and in India to 11,5 (11,9) million tons.
The worldwide export of Soybean could rise to 170 million tons next season, according to USDA forecasts, compared to 155,57 million tons in 2021/22. Brazil is expected to expand oil seed exports – to 88,5 (82,75) million tons USA to 59,87 (58,24) million tons, Argentina to 4,7 (2,75) million tons, Canada to 4,45 (4,2) million tons, Paraguay to 6,5 (2,9) million tons , Uruguay to 2,43 (1,95) million tons , Russia – up to 1,55 (0,65) million tons. However, Ukraine can reduce soy exports to 1 (1,15) million tons.
Oil reserves in 2022/23 may reach 99,6 million tons, up from 85,24 million tons in the 2021/22 season, according to a preliminary forecast by analysts, including China 31,56 million tons (30,75), Brazil 30,5 million tons (21,36), Argentina 22,1 million tons (19,3), USA 8,43 million tons (6,4).