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S.
Department of Agriculture (USDA) released the 2022 U.
S.
soybean planting intention report and quarterly inventory report
.
The planting intention report summarizes and analyzes the survey data of about 73,000 farmers , and predicts the planting area of various crops this year by summarizing farmers' willingness to plant major crops such as soybean, corn , wheat , and cotton.
Quarterly inventory data for crops such as soybeans by U.
S.
state on May 1
.
The US Department of Agriculture's Office of the Chief Economist (OCE) also reviewed the overall supply and demand situation of the US soybean industry last year in the "2022 Agricultural Outlook Report" (please click to read)released in February
.
Driven by the first phase of the China-US economic and trade agreement (expiring on January 15, 2022), the US soybean trade with China has resumed, reaching 32.
3 million tons in 2021, a year-on-year increase of 25.
0% (China Customs data)
.
In the next 10 years, with the advancement of urbanization and the increase of per capita disposable income, the consumption of the Chinese people will continue to upgrade, and the continuous growth of consumption demand for edible oil and livestock and poultry products will continue to promote the growth of soybean consumption.
It is expected that China's soybean imports will continue to grow.
will also increase
.
.
Driven by the first phase of the China-US economic and trade agreement (expiring on January 15, 2022), the US soybean trade with China has resumed, reaching 32.
3 million tons in 2021, a year-on-year increase of 25.
0% (China Customs data)
.
In the next 10 years, with the advancement of urbanization and the increase of per capita disposable income, the consumption of the Chinese people will continue to upgrade, and the continuous growth of consumption demand for edible oil and livestock and poultry products will continue to promote the growth of soybean consumption.
It is expected that China's soybean imports will continue to grow.
will also increase
.
In 2021, soybeans grown in the United States will account for about one-third [1]
.
Recently, the state-level soybean foundations in Illinois, Indiana, Iowa, Missouri and Ohio have jointly released forecasts on the future trends of the global soybean market, including the following five important aspects:
.
Recently, the state-level soybean foundations in Illinois, Indiana, Iowa, Missouri and Ohio have jointly released forecasts on the future trends of the global soybean market, including the following five important aspects:
· Demand for high-quality soybean oil and soybean meal
· Changes in fuel demand, including the use of alternative and emerging fuels
· Growing demand for animal and plant proteins driven by global population growth
· The global soybean market is increasingly competitive, how can infrastructure conditions become a powerful competitive advantage
· Emerging and diversified income sources, enabling farmers to gain more opportunities
Historical data and inventory forecasts of planting intentions
Planting Intention
According to the 2021 U.
S.
Soybean Planting Intentions Report, the U.
S.
soybean planting area is expected to be 87.
6 million acres (35.
45 million hectares) that year, an increase of 5% year-on-year
.
In 23 of the 29 states, the acreage intended for soybeans was up or unchanged from the previous year
.
According to the forecast of the "2022 Agricultural Outlook" report, as soybean prices and net profits are higher than those in the past 5-7 years, the planting area of soybeans in the United States has rebounded sharply compared with the previous two years, and it is expected to remain high in the next period
.
S.
Soybean Planting Intentions Report, the U.
S.
soybean planting area is expected to be 87.
6 million acres (35.
45 million hectares) that year, an increase of 5% year-on-year
.
In 23 of the 29 states, the acreage intended for soybeans was up or unchanged from the previous year
.
According to the forecast of the "2022 Agricultural Outlook" report, as soybean prices and net profits are higher than those in the past 5-7 years, the planting area of soybeans in the United States has rebounded sharply compared with the previous two years, and it is expected to remain high in the next period
.
2012-2021, U.
S.
soybean planting intention and actual planting area data (unit: thousand acres)
S.
soybean planting intention and actual planting area data (unit: thousand acres)
Inventory
On January 12, the USDA released its inventory report for the previous quarter, showing that as of December 1, 2021, U.
S.
soybean inventories totaled 3.
15 billion bushels, an increase of 7% from the same period last year
.
In March, the USDA’s monthly soybean supply and demand report forecast that U.
S.
soybean ending stocks in 2021/22 will be lowered to 285 million bushels, down from the previous forecast of 325 million bushels
.
S.
soybean inventories totaled 3.
15 billion bushels, an increase of 7% from the same period last year
.
In March, the USDA’s monthly soybean supply and demand report forecast that U.
S.
soybean ending stocks in 2021/22 will be lowered to 285 million bushels, down from the previous forecast of 325 million bushels
.
2011-2021, Quarterly U.
S.
soybean stocks comparison (unit: thousand bushels)
S.
soybean stocks comparison (unit: thousand bushels)
2022 U.
S.
soybean planting intent data and quarterly inventory report
S.
soybean planting intent data and quarterly inventory report
According to data from the 2022 U.
S.
Soybean Planting Intentions Report, the U.
S.
soybean planting area is expected to be 90.
955 million acres (36.
808 million hectares) that year, an increase of 4% year-on-year
.
In 24 of the 29 states, the intended soybean acreage was up or unchanged from the previous year
.
U.
S.
soybean stocks stood at 1.
93 billion bushels as of March 1, up 24% from a year earlier
.
S.
Soybean Planting Intentions Report, the U.
S.
soybean planting area is expected to be 90.
955 million acres (36.
808 million hectares) that year, an increase of 4% year-on-year
.
In 24 of the 29 states, the intended soybean acreage was up or unchanged from the previous year
.
U.
S.
soybean stocks stood at 1.
93 billion bushels as of March 1, up 24% from a year earlier
.
State and National Soybean Planting Intentions
U.
S.
state soybean inventory and total inventory
S.
state soybean inventory and total inventory
[1] https://ourworldindata.
org/soy
org/soy
