Global Soybean Stocks Are Expected To Rise By 15.8 Million Tons Year-on-year In 2018/19
According to oilworld, an industry publication based in Hamburg, Germany, the global surplus of soyabeans and rapeseed in 2018/19 (September to August) will be larger than expected. Oilworld raised its global ending soybean inventory data by 1.1 million tons to 110.1 million tons at the end of August 2019, an increase of 15.8 million tons over the previous year.
Ending stocks of soybeans in 2018/19 will equal 31.9% of annual consumption, a record, up from 27.5% last year. The United States has a surplus of soybeans, with ending stocks expected to reach 28.5 million tons by the end of August 2019, up from 11.9 million tons this year.
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