Porto Alegre,\nSeptember 14, 2020 \u2013 The USDA\u2019s September supply\nand demand report, released last Friday (13), focused the market\u2019s attention.\nThe report was very much expected due to the trend of negative adjustments in\nthe U.S. production and\nstocks in the face of climatic problems registered in the U.S. growing belt in August and early\nSeptember. Although the adjustment in production was not as great as market players\nexpected, it was still considered very relevant, which maintained the bullish\ntone of the report.<\/p>\n\n\n\n
USDA indicated that the U.S. soybean\ncrop must hit 4.313 billion bushels in 2020\/21, or 117.4 million tons, below\nthe previous estimate of 4.425 billion or 120.43 million. The market was betting\non a crop of 4.286 billion or 116.64 million tons.<\/p>\n\n\n\n
Final stocks are estimated at 460 million\nbushels or 12.52 million tons. The market was betting on carryover stocks of\n461 million or 12.55 million tons. In the previous report, stocks were\nprojected at 610 million bushels \u2013 16.6 million tons.<\/p>\n\n\n\n
USDA indicated the crush at 2.180 billion\nbushels (58.79 million tons) and exports of 2.125 billion bushels (57.83\nmillion tons), repeating the August estimates.<\/p>\n\n\n\n
The 2019\/20 production remains estimated\nat 3.552 billion bushels (96.67 million tons). Final stocks in 2019\/20 were reduced\nto 575 million bushels (15.65 million tons), below the expectations of 605\nmillion (16.47 million tons). In the previous report, the figure was 610\nmillion bushels (16.60 million tons).<\/p>\n\n\n\n
As for the world scenario, USDA projected\na world soybean crop in 2020\/21 of 369.74 million tons. In August, the number\nwas 370.4 million tons.<\/p>\n\n\n\n
Final stocks are estimated at 93.59\nmillion tons. The market expected final stocks of 93.2 million tons. In August,\nthe forecast was 95.36 million tons.<\/p>\n\n\n\n
USDA projects the U.S. crop at 117.38\nmillion tons, as already mentioned. For Brazil, the forecast is for a\nproduction of 133 million tons, up 2 million from the August figure. Argentina\nis expected to produce 53.5 million tons. The estimate for Chinese imports in\n2020\/21 is 99 million tons, repeating the August figure.<\/p>\n\n\n\n
For\n2019\/20, USDA indicated a crop of 337.3 million tons. Final stocks are\nprojected at 96.01 million tons, while the market was betting on 95.6 million. Both\nthe Brazilian and Argentine crops had their estimate maintained respectively at\n126 and 49.7 million tons. Chinese imports are projected at 98 million tons,\nthe same number as in the previous report.<\/p>\n\n\n\n
Copyright 2020 – SAFRAS Latam<\/p>\n","protected":false},"excerpt":{"rendered":"
Porto Alegre, September 14, 2020 \u2013 The USDA\u2019s September supply and demand report, released last Friday (13), focused the market\u2019s attention. The report was very much expected due to the trend of negative adjustments in the U.S. production and stocks in the face of climatic problems registered in the U.S. growing belt in August […]<\/p>\n","protected":false},"author":6,"featured_media":9131,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[102],"tags":[],"commodity":[],"class_list":["post-19149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agribusiness-en"],"acf":[],"yoast_head":"\n