USDA World Soybean Meal Supply-Demand - April 2018



                      World Soybean Meal Supply and Use
                              (Million Metric Tons)
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                                    Supply                Use
                           Stocks     tion  Imports Domestic  Exports   Stocks
Region                  Beginning  Produc-          Total     Exports   Ending
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                                    201  16
World                       13.88   215.96    61.75   213.08    65.43    13.09
United States                0.24    40.53     0.37    30.04    10.84     0.24
Total Foreign               13.64   175.44    61.38   183.03    54.58    12.85
  Major Exporters            8.39    68.36     0.07    23.60    46.15     7.07
    Argentina                4.03    33.21     0.00     2.67    30.33     4.23
    Brazil                   3.81    30.75     0.03    16.47    15.41     2.71
    India                    0.55     4.40     0.05     4.46     0.41     0.13
  Major Importers            2.25    16.42    36.47    52.37     0.51     2.26
    European Union           0.86    11.81    19.21    30.74     0.30     0.83
    Southeast Asia           1.28     2.89    15.54    18.17     0.21     1.33
                                  201  17 Est.
World                       13.09   225.81    60.57   222.34    64.64    12.48
United States                0.24    40.63     0.32    30.30    10.52     0.36
Total Foreign               12.85   185.18    60.25   192.05    54.12    12.11
  Major Exporters            7.07    71.74     0.05    24.50    47.10     7.26
    Argentina                4.23    33.28     0.00     2.85    31.32     3.34
    Brazil                   2.71    31.66     0.04    16.94    13.76     3.70
    India                    0.13     6.80     0.01     4.71     2.01     0.22
  Major Importers            2.26    16.16    36.57    52.81     0.53     1.64
    European Union           0.83    11.38    18.89    30.44     0.33     0.33
    Southeast Asia           1.33     2.98    16.06    18.95     0.20     1.21
                                  201  18 Proj.
World
                     Mar    12.11   236.70    63.26   233.66    66.69    11.71
                     Apr    12.48   235.12    61.80   232.19    65.39    11.82
United States
                     Mar     0.36    42.00     0.27    31.12    11.25     0.27
                     Apr     0.36    42.23     0.36    31.34    11.34     0.27
Total Foreign
                     Mar    11.75   194.70    62.98   202.55    55.44    11.43
                     Apr    12.11   192.89    61.44   200.84    54.05    11.55
  Major Exporters
                     Mar     7.41    73.70     0.04    26.53    47.75     6.87
                     Apr     7.26    71.64     0.04    25.48    46.55     6.91
    Argentina
                     Mar     3.33    33.28     0.00     3.00    30.80     2.81
                     Apr     3.34    31.60     0.00     2.90    29.50     2.54
    Brazil
                     Mar     3.60    33.40     0.03    17.98    15.25     3.80
                     Apr     3.70    33.40     0.03    17.48    15.45     4.20
    India
                     Mar     0.48     7.02     0.01     5.55     1.70     0.26
                     Apr     0.22     6.64     0.01     5.10     1.60     0.17
  Major Importers
                     Mar     1.25    16.48    37.53    53.29     0.51     1.45
                     Apr     1.64    16.52    37.13    53.26     0.51     1.52
    European Union
                     Mar     0.23    11.46    19.20    30.34     0.30     0.24
                     Apr     0.33    11.53    18.90    30.19     0.30     0.27
    Southeast Asia
                     Mar     0.98     3.25    16.63    19.48     0.21     1.17
                     Apr     1.21     3.21    16.58    19.59     0.21     1.20
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