According to the International Grains Council (IGC), due to further downgrades for South American producers, the 2021/22 global soyabean crop forecast is cut by 3 million (m) tonnes (t), to 350m (-5% y/y). With tight carry-ins contributing to a reduction in supplies, prospects for utilisation and stocks are trimmed, the latter by 1m t, to 42m, about one-fifth lower y/y. Given dwindling availabilities and elevated values, the trade figure is scaled back and is down y/y. Linked to anticipated supply responses in the three majors, harvested area could expand by 2% y/y in 2022/23.
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