World: 2010/11 soybean production seen slightly higher at 251.3 mln t

The USDA slightly revised up its forecast for 2010/11 world soybean production to 251.3 mln t from the previous figure of 249.9 mln t and compared to the 259.2 mln t produced in 2009/10. The USA is seen to produce 91.4 (90.1; 91.4) mln t, Argentina 50.0 (50.0; 54.0) mln t, Brazil 65.0 (65.0; 69.0) mln t, whereas China’s output remains at 14.6 (14.6; 14.7) mln t.
Worldwide use is projected at 247.6 (246.6; 235.2) mln t including a crush of 216.3 (215.3; 205.2) mln t, exports should reach 88.8 (88.2; 86.4) mln t and ending stocks 67.8 (67.0; 65.5) mln t.
(USDA, July 9, 2010)