Soybean production could be 7 percent more than last season
In the September forecast of Oil World, it expects a global soybean harvest of 394.4 million tons in 2023/2024, which is almost 7 percent higher than the previous season. financial year. In the Northern Hemisphere, emissions could be 169.2 million tons (-2 percent), and in the Southern Hemisphere 225.2 million tons (+15 percent).

(Photo: Pixabay)
Consumption may increase by 3 percent to 379 million tons, and the closing stock of the crop to 106 million tons (+17 percent). This year, 2.9 million tons of soybeans can be harvested in the European Union, 16 percent more than a year earlier. A good harvest is expected in the main producing member countries: in Italy 1.1 million tons (+15 percent), in France 420 thousand tons (+14 percent, in Romania 320 thousand tons (+23 percent) of soybeans can be stored. In Hungary, information from the Ministry of Agriculture (AM) from 37 percent of the 58,000-hectare area, with an average yield of 3 tons per hectare, the farmers harvested 64,000 tons of soybeans by October 4.
According to AKI PÁIR data, the producer price of soybeans was HUF 150.2 thousand/ton (-40 percent) in the last week of September
At the same time, full-fat (extruded) soy (30-40 percent crude protein, 17-23 percent crude fat, and up to 12 percent water) was sold at HUF 221.6 thousand/ton (-7 percent) excluding VAT and shipping costs. On the Chicago Mercantile Exchange (CME/CBOT), the November quotation for soybeans was in the range of $465-479/ton between September 25 and October 6.
AKI PÁIR
Related news
Responsible agricultural water management is key during drought periods
It is of utmost importance that Hungarian agriculture can adapt…
Read more >Imre Hubai: We are helping farmers with subsidies and measures
Without successful agriculture, there is no successful countryside, no secure…
Read more >Cherries are significantly more expensive this year
According to data from the Hungarian Central Statistical Office, the…
Read more >Related news
In the wake of “shrinking products” – Hungary leads the way in shrinkflation regulation
DLA Piper’s latest report, the International Shrinkflation Guide, provides a…
Read more >GKI Analysis: We invest, but we don’t make progress
GKI has recently prepared a comprehensive series of analyses on…
Read more >Changing tastes, growing challenges – We can prepare for such a beer year in 2025
Although the domestic beer market expanded by 2.8% in 2024,…
Read more >