Soybean prices are rising despite major production in the world.
The main reason for the increase in world prices is the good exports of this product. Improving demand in China’s feed sector and improving global economic conditions have facilitated global soybean sales.
The International Grains Council (IGC) has announced a monthly global soybean harvest forecast for the 2020-2021 season of 8 million tonnes, up from a record 373 million tonnes. This is 10% more than last year’s harvest (2019-2020), which amounted to 339 million tons.
The soybean trade increased from 161 million tonnes (July) to 164 million tonnes (August), largely due to good exports from South America.
Brazil exports large quantities of soybeans to China. Global import demand is rising sharply due to the supply of soy in China. Soybean prices in the stock market are still rising, but have not yet reached the peak of 2018
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