Soybeans – Russia’s forecast output would be the fourth consecutive record crop

By IAC Staff

The USDA has forecast Russia 2017/18 soybean production at 3.9 million metric tons (mmt), up 0.6 mmt from last month and surpassing last year’s record by 0.8 mmt.

The month-to-month increase is based on favorable conditions in Russia’s main soybean production regions, the USDA said in its latest World Agriculture Demand and Supply report, adding that satellite derived vegetation indices suggested high yield potential in the Far East District, which accounts for over half of the country’s soybean output.

“Overall crop conditions are good in the Central and Southern Districts as well. Yield is forecast at 1.56 tons per hectare, up 5 percent from last year’s record and 19 percent above the 5-year average,” it said.

According to data from Rosstat (the State Statistical Committee of Russia), the area planted to soybeans for 2017/18 had reached 2.6 million hectares (mha), 0.4 mha above last year’s record level.

This includes 1.4 mha in the Far East District, 0.8 mha in the Central District, and 0.2 mha in the Southern District. Area losses typically are low; in the past four years, over 95 percent of the planted area has been harvested, the report added.

USDA estimates harvested area for 2017/18 at 2.5 mha against 2.1 mha last year.

Prashant has worked in the publishing industry for 17 years. His keen interest in commodities developed while working for organisations such as like Thomson Reuters, Wolters Kluwer & McGraw-Hill eventually brought him here. In his free time, Prashant consults with businesses in the digital space.


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