March 14, 2006

USDA forecasts US soybean production 84 million tonnes

US soybean production in 2006-07 is expected to be 84 million tonnes with the yield expected to be 2.91 tonnes/hectare, according to USDA's report.

Planted area likely will be 29.2 million hectares. USDA projects US soybean ending stocks for 2005-06 are expected to be 15.4 million tonnes, due to reduced soybean exports. Exports are projected at 24.5 million tonnes, reflecting lower imports for China and EU.

China soybean production is expected to be 18.3 million tonnes based on increased area and yield.

Brazilian and Argentine soy production remains unchanged from its previous forecast of 58.5 million tonnes and 40.5 million tonnes respectively.