Soybean stocks in the United States are lower than last year

As of the beginning of September, the US soybean stocks amounted to about 7.3 mln tonnes, down 2% compared to the same period of 2022, according to the analysts of the US Department of Agriculture (USDA).

Besides, according to the experts, the estimation of the gross harvest of the oilseed in the United States for the season-2022/23 was revised downward by 0.2 mln tonnes to 116.2 mln tonnes.

As for wheat, by September 1, its stocks are estimated at 48.4 mln tonnes, slightly lower than the level of the same date last year. Corn stocks amounted to 34.6 million tons (-1%) at the beginning of September.

“Based on the analysis of the end-of-season stocks estimates, export data and administrative data of the farm program, the USDA analysts revised the estimate of corn production in the US in 2022/23 MY by 0.4 mln tonnes downward to 348.4 mln tonnes”, – the report says.

As for the other grains, the stocks of sorghum are estimated at 0.6 mln tonnes (-49%), barley – 3.9 mln tonnes (+9%), oats – 1.1 mln tonnes (+20%).

Tags: USA, soybean