According to the United States Department of Agriculture's (USDA) June Agricultural Supply and Demand Report, which compares expectations for May and June, global soybean production remains estimated at 426.82 million tons, but final stocks were adjusted upwards, rising from 124.33 million to 125.30 million tons. In Brazil, the world's largest producer, production projections remain at 175 million tons, with a slight increase in final stocks, from 34.16 million to 34.29 million, while exports remained at 112 million tons. In the United States, production remains at 118.12 million tons, with no changes in crushing (65.86 million tons) or exports (49.4 million tons). Argentina maintains stable production at 48.5 million tons and final stocks at 25.45 million tons, with exports also unchanged at 4.5 million tons. In China, the world's largest buyer, estimated production remains at 21 million tons, but final stocks rose from 43.86 million to 44.88 million tons, keeping imports at 112 million tons.

In the case of corn, the USDA revised world production upwards, from 1.264.98 billion tons in May to 1.265.98 billion tons in June, while final stocks were revised downwards, from 277.84 million to 275.24 million tons. For Brazil, production remains at 131 million tons, with final stocks adjusted slightly from 2.58 million to 2.59 million tons and exports maintained at 43 million tons. In the United States, production remains at 401.85 million tons and productivity at 189.35 bags/ha, but final stocks fell from 45.72 million to 44.45 million tons; use for ethanol (139.71 million tons) and exports (67.95 million tons) remained unchanged.

In Argentina, corn is expected to reach 53 million tons, with final stocks revised from 2.79 million to 3.19 million tons, while exports remain at 37 million tons. In Ukraine, production remained at 30.5 million tons, with final stocks stable at 600 thousand tons and exports at 24 million tons, with no changes between May and June.

Source: Agrolink