Market Outlook

See the the latest Soybeans & Oil Crops Outlook report.

2021/22 Global Soybean Stocks Fall in Tandem with South American Production

Global soybean production for 2021/22 is reduced by 9.2 million tons to 372.56 million metric tons in response to lower yields in South American crops. Nevertheless, 2021/22 global production will eclipse the 2020/21 production of 366.23 million metric tons by 6.3 million metric tons, if realized. Moreover, dry weather in Southern Brazil, Argentina, and Paraguay through the early portion of the season has reduced the potential for bumper soybean production. The anticipated reduction in soybean output is expected to lower 2021/22 global ending stocks by 6.8 million tons to 95.2 million, 5 percent below last year. This would be the lowest global soybean inventory since 2016/17.