Soybeans – World Supply and Demand Summary
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United States The United States is the largest producer of soybeans in the world, averaging a production of 69,682 TMT of beans. The United States is also the world’s largest consumer of soybeans, sitting at an average annual consumption of 45,313 TMT. In the importing arena, the United States, on average, imports 132 TMT, which is a relatively insignificant amount. However, the United States exports 24,168 TMT, ranking the U.S. as the world’s largest exporter of soybeans. The U.S. also has the highest average ending stock in the world with 6,933 TMT. U.S. soybeans are grown throughout the Midwest, with major growing areas encompassing Illinois and Iowa. Minor growing areas surround these states, with further minor production coming from the lower Mississippi river valley and the eastern seaboard. Soybean plantings begin around the first of May and run through the end of June. Soybeans can then be expected to begin flowering around the first of July and will continue to do so through the end of August. Bean harvest will begin around the end of September and will run through the end of November.
Brazil is the second largest producer of soybeans in the world, averaging 30,236 TMT of bean production. Brazil is also the second largest consumer of soybeans in the world, with an average consumption of 22,779 TMT per year. Brazil also imports an average of 893 TMT. Brazil is the second largest exporter of soybeans, exporting an average of 8,363 TMT per year. Brazil’s ending stocks average is 586 TMT of beans. Small pockets of soybeans are grown throughout south-central Brazil, with the main production areas located in the southeastern region of the nation. The state of Rio Grande do Sul produces 27 percent of the nations total soybeans, with the state of Parana producing a total of 21 percent of Brazilian beans. In Brazil, soybeans are planted from mid-October through the end of December. The plants then flower from mid-January until mid-February. Bean harvest begins around the first of March and will generally run through the end of May.
During the course of an average year, Argentina produces 17,547 TMT of soybeans, ranking them as the third largest producer of soybeans in the world. Argentina is also the fourth largest consumer of soybeans in the world, with average consumption of 14,810 TMT. Argentina imports only a relatively small amount, 451 TMT, but it is the third largest exporter of soybeans in the world, with average exports of 3,101 TMT. Average ending stocks in Argentina are 463 TMT. Soybeans in Argentina are grown in the northern regions of the nation. The province of Santa Fe produces the majority of soybeans in the nation, with 40 percent of the nations total bean output. Soybeans in Argentina are planted from the beginning of November through the end of December. Flowering occurs primarily during the month of February, with harvest running through the months of April and May.
China is the fourth largest producer of soybeans in the world, averaging14,656 TMT of beans produced per year. Average yearly bean consumption is 18,267 TMT, making China the third largest consumer of soybeans in the world. On average, China imports 4,373 TMT of beans, ranking them as the third largest importer of soybeans in the world. China, on average, exports 224 TMT of beans. Ending stocks for China are 1,881 TMT per year, ranking them second in world ending stocks. Soybeans in China are grown mostly in the eastern regions of the nation, with the province of Heilongjiang accounting for 33.3 percent of the nations total production. Generally, soybeans are planted from the first of April through the end of May. Harvest then runs from the beginning of September through the end of October.
India is the fifth largest producer of soybeans in the world, with average production of 4,809 TMT of soybeans. Average consumption in India is 4,812 TMT of soybeans, giving them the rank of sixth largest consumer of beans in the world. India is primarily a closed economy in the soybean arena. India’s imports average a mere 8 TMT, while exports average 0 TMT. Average ending stocks in India are 68 TMT. The Majority of all the soybeans in India are grown in the province of Madhya Pradesh. Alone, this province produces 81 percent of all the soybeans grown in India. The remaining growing areas are centered around Madhya Pradesh, which lies in the center of the nation. In most of India, soybeans are planted from the first of June through the end of August. Soybeans will then begin to flower and develop pods during the time span of mid-July through mid-October. The harvest will then take place from mid-September through the end of December.
Paraguay is the sixth largest producer of soybeans in the world, with average production of 2,535 TMT. Of this amount, Paraguay consumes only a small portion of the total production, averaging 731 TMT of soybean consumption. Paraguay is not an importer of soybeans, however, they do export a great deal. Average exports for Paraguay are 2,083 TMT, ranking them as the fourth largest exporter of soybeans in the world. Due to the fact that Paraguay exports such a high percentage of their total production, ending stocks have a very low average of only 8 TMT. In Paraguay, soybeans are grown in the southern most region of the country, with the major growing area occupying a belt along the southeast border of the nation. Soybeans in Paraguay are planted from the first of October through the end of December. Harvesting begins around the first of March and runs through the end of June.
Canada is the seventh largest producer of soybeans in the world, with average yearly production of 2,339 TMT. Canada consumes an average of 2,026 TMT. With their large production relative to their consumption, Canada is one of the smallest importers of beans in the world, averaging a yearly importation of 224 TMT. Canada’s high production to consumption ratio also lends itself to large exports. Canada ranks fifth in world exports, averaging 723 TMT per year. As far as ending stocks, Canada ranks right in the pack, placing eighth in the world with an average of 143 TMT. Canada’s one major growing area for soybeans is in the southern most region of Ontario, along the shore of Lake Erie. Here the beans are planted from the first of May through the end of June, they flower from the first of July through the end of August, and they are harvested from the mid-September through mid-November.
Italy is the tenth largest producer of soybeans in the world, averaging a yearly production of 887 TMT. Italy, also on average, consumes 1,768 TMT. Imports and exports for Italy average 893 TMT and 12 TMT of soybeans respectively. Ending stocks average 164 TMT in Italy. In Italy, soybeans are produced in the northern regions of the country, with the province of Veneto accounting for 37 percent of the nations total soybean production. Italian soybeans are planted from the end of April through the end of May, and harvest runs from the first of October through the end of November.
Information provided courtesy of the USDA Economic and Statistics System and the USDA/NOAA Joint Agricultural Weather Facility