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Global Soybean output set to rise by 10%

Owing to record crops in leading producers, world soybean output in 2014/15 is forecast to expand by 10%, to a record of 314m t. Increased consumption in feed and food sectors – primarily in the Asian region – is set to underpin a further rise in global use, according to a new report by International Grains Council.

Nevertheless, the huge world out turn will result in a heavy build-up of inventories, especially in the major exporters. China’s increasing needs will boost trade to a new high but, at just 5%, growth is expected to be less pronounced than in the past owing to ample supplies.

Rapeseed/canola trade is seen falling sharply, by 14% y/y, tied to reduced shipments to China and the EU amid comfortable domestic availabilities.

Global soybean prices moved lower on South American harvest pressure, an end to trucker strikes in Brazil and recent market speculation about a potential increase in US spring plantings.
Source: Commodity Online