In March, USDA analysts updated their forecast for soybean processing in Argentina for the 2024/25 season, increasing it to 42 million tons per month, exceeding last year's level. Therefore, the total soybean consumption in the country is expected to reach 49.6 million tons, according to "APK Inform" portal.
Forecasts for soybean crop and oilseed exports remained unchanged at 49 million tons and 4.5 million tons respectively. However, the forecast for ending stocks was reduced to 24.9 million tons.
The forecast for soybean meal production was also increased to 32.76 million tons (compared to last year's 28.54 million tons), with exports of this product reaching 29 million tons.
Forecasts for soybean oil production were also raised to 8.38 million tons, with exports at 6.25 million tons.