IHS Markit: U.S. soybean acreage lowered to 87.805 million acres in 2022

Foreign media, January 27 news: IHS Markit, a consulting firm formerly known as Informa Economics, released a report on Wednesday, projecting 87.805 million acres of soybean plantings in the United States in 2022, 1.01 million acres lower than the December forecast, but still more than in 2021. 610,000 acres.

IHS Markit projects 2022/23 U.S. soybean production at 4.52 billion bushels, compared with 4.435 billion bushels in 2021/22.

U.S. soybean ending stocks for 2021/22 are projected at 310 million bushels due to higher crushing.

Global soybean production expected to rise in 2022/23

IHS Markit expects global soybean production to approach 396 million tonnes in 2022/23, up from 368 million tonnes in 2021/22.

U.S. soybean production will reach 124 million tons, up from 120 million tons in 2021/22.

Brazil’s soybean production will reach 147 million tons, compared with 137 million tons in 2021/22.