Global soybean production hit another record high this year

According to the data of USDA's supply and demand report in August, the global soybean output is expected to be 384 million tons in 2021 / 22, an increase of 20.37 million tons over 363 million tons in the previous year, another record high; The global soybean demand in 2021 / 22 was 379 million tons, an increase of 12.49 million tons over 366 million tons in the previous year.

As the increase of soybean demand is lower than that of output, the global soybean ending inventory in 2021 / 22 is 96.15 million tons, an increase of 3.33 million tons compared with 92.82 million tons in the previous year.

Source: USDA