Global soy crop outlooks are aggressive, maybe too much so

The U.S. Department of Agriculture’s first outlooks for the upcoming 2022-23 season, published last Thursday, suggest next year’s soybean supply relative to demand will safely rise from this year but remain on the tighter side compared with other recent years.(File pic: Soyabean harvesting in US.)

NAPERVILLE, Ill.,: The U.S. government’s latest projections suggest a little more comfort in global soybean stocks over the next year versus corn or wheat, but that is based on some crop assumptions that could be difficult to achieve, especially all at once.

The U.S. Department of Agriculture’s first outlooks for the upcoming 2022-23 season, published last Thursday, suggest next year’s soybean supply relative to demand will safely rise from this year but remain on the tighter side compared with other recent years.