According to analysts from the US Department of Agriculture (USDA), stocks of soybeans in America increased by the beginning of last month.
Thus, as of September 1, oilseed stocks are estimated at 7.5 million tons, which is 7% higher than the level in the indicated month of the previous year.
As for grain crops, indicators for corn increased by 12% – up to 35 million tons, sorghum by as much as 162% – up to 1.4 million tons, barley by 22% – up to 3. 6 million tons, oats by 1% – up to 0.9 million tons.
Wheat stocks in the US by the start of September did not change and fixed at around 48.3 million tons.
In their report, USDA experts also raised their estimate of the 2021/22 gross soybean harvest by 0.8 million tons to 121.5 million tons. However, the estimate of corn production, on the contrary, was reduced by 1 million tons to 382.9 million tons.
Recall that the harvesting campaign of soybeans is now actively moving forward in the United States. In 2022, according to the official forecast of NASS USDA, oilseed production in America will slightly decrease. The second largest producer of this crop in the world is expected to harvest 119.2 million tons, 1.6 million tons less than in 2021.