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USDA Cuts Soybean Production Estimates

Porto Alegre - RS - Brazil 20230811

USDA supply and demand for the 2023/2024 Soybean Crop
USDA dates of soybean crops 23/24

Source: USDA and Noticias Agricolas


The USDA (United States Department of Agriculture) brought its new monthly supply and demand bulletin, cutting the production indices of the American crop, as expected by the market.


Total American production dropped from 117.03 to 114.44 million tons, with a productivity of 57.04 bags per hectare, against 58.28 bags per hectare in the July bulletin.


Other indices:

  • Ending stocks fell from 8.18 million to 6.67 million.

  • Exports were also corrected downwards, changing from 50.35 to 49.67 million tons.

  • Imports rose from 410 thousand to 520 thousand tons.

  • The planted and harvested areas remained unchanged.

World oilseed estimates:


As a result of cuts in US production, world production was also corrected downwards, from 405.31 to 402.79 million tons. And closing stocks were estimated at 119.4 million tons, against 120.98 million in the previous bulletin.


The estimates for the crop in Brazil and Argentina were maintained at 163 million and 48 million tons, respectively, as well as soybean imports by China at 99 million.

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