As per the latest release from the United States Department of Agriculture (USDA ), the global soybean production for 2013/14 is projected higher at 287.69 million tonnes, up 0.82 million tonnes. The exports of the soybean projected higher at 109.32 million tonnes, up 0.07 million tonnes from the last month.
Global soybean production is up with larger crops in Brazil and Paraguay more than offsetting a reduction in Argentina. Soybean trade is changed marginally as larger exports by the United States, Brazil, and Paraguay backfill an Argentine reduction. While the global market has abundant supplies, U.S. supplies remain tight driven by stronger demand from overseas and domestic crushers.
Higher global soybean production is only partly offset by lower crush leaving 2013/14 global soybean ending stocks slightly higher 0.70 million tonnes at 73 million.