August 15, 2013
World soy ending stocks decline in 2013-14
The August 12 World Agricultural Supply and Demand Estimates (WASDE) of the USDA projected 2013-14 world soy ending stocks at 72.27 million tonnes, down 1.85 million tonnes from July but up 10.1 million tonnes, or 16%, from 62.22 million tonnes in 2012-13.
World soy production for 2013-14 was projected at 281.72 million tonnes, down 4.17 million tonnes from July but up 14.14 million tonnes, or 4%, from 267.58 million tonnes in 2012-13. Global soy consumption was projected at 268.72 million tonnes in 2013-14, down 1.81 million tonnes from July but up 11.05 million tonnes, or 5%, from 257.70 million tonnes this year. World soy exports were projected at 107.40 million tonnes, up 190,000 tonnes from July and up 10.36 million tonnes, or 11%, from 96.64 million tonnes in 2012-13.
Soy production in 2013-14 was projected at a record 85 million tonnes in Brazil, unchanged from July and up three million tonnes from 2012-13.
Global rice carryover was projected at 107.47 million tonnes in 2013-14, up 2.65 million tonnes from 104.82 million tonnes in 2012-13. World rice production was projected at 477.93 million tonnes, up 8.98 million tonnes from 468.95 million tonnes in 2012-13. Total use was projected at 475.28 million tonnes, up 6.33 million tonnes from 468.95 million tonnes in the current year.
