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The acreage of soybeans in the U.S. fell to 8-year low
According to the September USDA report, the acreage of soybeans in the United States decreased by 13% compared to the 2018/19 season and amounted to 30.7 million acres, that became the lowest indicator after the 2011/12 season.
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The reason for the decline was the ongoing trade war between the US and China, which led to a sharp decline in imports of U.S. soybeans to China. Also played a role in the epidemic of ASF in China, where demand for soybean meal. Partly affected by spring floods in the Midwest of the United States, caused considerable damage to the farmers of the country.

The decrease of soybean production is projected higher, at up to 98,86 million tonnes, i.e. 20% in comparison with the season 2018/19.

Due to the persistence of high rates of consumption and export greatly reduced soybean stocks in the US – from 27.36 million tonnes at the end of last season to 17.43 million tonnes at the end of season 2019/20.

 

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Translated by service "Yandex.Translation"
Источники: Oilworld