South American soybean and soybean meal exports are expected to increase

Introduction: the Foreign Agricultural Service Bureau of the U.S Department of Agriculture reports This month, it is estimated that global soybean and soybean meal exports increased by 1.773 million tons and 558000 tons respectively in 2001 / 02 market year U.S soybean and soybean meal exports are expected to decline due to increased competition from Brazil and Argentina If these estimates are true, the combined soybean exports of South America (Brazil, Argentina and Paraguay) in 2001 / 02 will exceed that of the United States for the first time in history It is estimated that soybean production in Brazil, Argentina and the United States increased in 2001 / 02 This month, soybean production in South America is estimated to increase by 5.1% to 71.9 million tons, while that in the United States is estimated to increase by 2.6% to 79.1 million tons The increase in soybean production in Brazil is mainly due to the increase in the area planted, in part due to the conversion of cotton and corn to soybeans by producers It is expected that the increase in soybean exports from South America will partially replace those from the United States Most of the increased soybean trade is sold to the EU, and it is estimated that the EU soybean imports increased by 600000 tons in 2001 / 02 It is expected that the global soybean ending inventory will reach 29 million tons, 26.2 million tons higher than last month's forecast, and 28.5 million tons higher than the estimated global soybean ending inventory in 2000 / 01 market year US soybean end of term stocks are expected to increase by nearly 2.5 million tons to 9.4 million tons.