World soybean production should remain at 418.9 mln tons in 2024/25, AMIS says

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Porto Alegre, July 8th, 2024 – World soybean production in 2024/25 is expected to total 418.9 mln tons. In the previous year, production hit 393.6 mln.

The estimate is part of the July report from the Agricultural Market Information System (AMIS), a G-20 body that releases supply and demand data on the main global commodities. In June, when the most recent number was disclosed, the forecast was 419.2 mln tons.

The reduction in the estimate reflects the feeling of a smaller area to be reaped in the United States and the European Union.

The United States Department of Agriculture (USDA) estimates global production at 422.3 mln. The International Grains Council forecasts 414.4 mln tons.

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