In its most recent crop follow-up report for August, the International Grains Council (IGC) has raised the estimate for world soybean production in the 2018/19 cycle to 366 million tonnes, an increase of 2 % compared to the July projection [359 million tonnes].
The council maintained the forecast for global trade in oilseed in the 2018/19 crop by 154 million tonnes.
The IGC revised up slightly the projection of world consumption in the 2018/19 season to 357 million tonnes, a million more than the July estimate.
Meanwhile, global stocks at the end of the 2018/19 period are expected to reach 51 million tonnes, seven million above the July forecast.
This text was translated by machine from Brazilian Portuguese.