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IGC Lifts Soyabean Trade Forecasts
In its latest report, the International Grains Council (IGC) has lifted its forecast for global soyabean trade in the 2017/18 (Oct-Sep) harvest year by 1.9 Mt to a record 152.9 Mt. This largely reflects the expectation of higher shipments from Brazil (65.0 Mt) and the US (61.6 Mt). These increases are expected to be driven by improved import demand from China with the IGC lifting its 2017/18 soyabean import forecast for the country by 3.2 Mt to 99.2 Mt. This is expected to compensate for softer demand in other regions.