Russian soybean market: the new season hitting new highs
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Russian soybean market: the new season hitting new highs

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Consulting Agency UkrAgroConsult

UkrAgroConsult

The past 2018/19 season witnessed a further increase in Russian soybean production. A record soybean crop of over 4 MMT was obtained due to the largest ever planted area of 2.95 Ml ha and yield at a near-record 1.47 MT/ha, reports UkrAgroConsult.

Despite the crop rise, soybean exports dropped by 9% from the 2017/18 record due to stepped up domestic crush. As the country has no soybean oil consumption habits, over 70% of its production was shipped abroad.

Concerning 2019/20 season, real-time data on harvest progress as of October 25, 2019 show that farmers had harvested 4 KMT (up 17.6% year-on-year) from 2.3 Ml ha (4.5% ahead of last year) with yield at 1.72 MT/ha (up 36.7%).

UkrAgroConsult forecasts the Russian soybean crop at a record level. Domestic crush will continue growing as well as soybean oil exports owing to China’s interest in Far Eastern soybeans.

Full version of the article is available to subscribers for Online Analytics “Black Sea Vegoils” in the new innovative platform AgriSupp.com by UkrAgroConsult. Agrisupp is a reliable analytical tool for agri market participants that contains historical and current market data, daily updates on grain, oilseed and pulses markets. We offer 7-days trial! Completely free!

 

UkrAgroConsult

 

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