USDA World Soybean Supply-Demand Outlook - April 2018



                        World Soybean Supply and Use
                              (Million Metric Tons)
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                                    Supply                Use
Region                 Beginning Produc-              Domestic            Ending
                          Stocks    tion Imports   Crush   Total Exports  Stocks
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                                    201  16
World                      77.90  313.77  133.33  275.15  313.94  132.56   78.50
United States               5.19  106.86    0.64   51.34   54.47   52.86    5.35
Total Foreign              72.71  206.91  132.69  223.82  259.47   79.70   73.14
  Major Exporters          50.88  164.73    1.12   86.89   94.65   71.88   50.19
    Argentina              31.70   56.80    0.68   43.27   47.65    9.92   31.60
    Brazil                 19.08   96.50    0.41   39.75   43.05   54.38   18.56
   Paraguay                 0.07    9.22    0.01    3.80    3.86    5.40    0.03
  Major Importers          18.85   15.48  113.50  106.83  127.77    0.32   19.73
    China                  17.01   11.79   83.23   81.50   95.00    0.11   16.91
    European Union          0.84    2.32   15.12   14.95   16.58    0.14    1.56
    Japan                   0.21    0.24    3.19    2.28    3.38    0.00    0.26
    Mexico                  0.11    0.34    4.13    4.40    4.43    0.00    0.15
                                  201  17 Est.
World                      78.50  350.76  144.33  288.23  329.41  147.46   96.72
United States               5.35  116.92    0.61   51.74   55.51   59.16    8.21
Total Foreign              73.14  233.84  143.72  236.48  273.90   88.30   88.51
  Major Exporters          50.19  185.78    1.94   88.13   96.14   79.42   62.36
    Argentina              31.60   57.80    1.67   43.30   47.83    7.03   36.22
    Brazil                 18.56  114.10    0.25   40.90   44.30   63.14   25.47
   Paraguay                 0.03   10.67    0.01    3.85    3.92    6.13    0.66
  Major Importers          19.73   16.75  122.60  113.20  135.89    0.39   22.81
    China                  16.91   12.90   93.50   88.00  102.80    0.11   20.39
    European Union          1.56    2.38   13.42   14.40   16.04    0.22    1.10
    Japan                   0.26    0.24    3.18    2.39    3.45    0.00    0.22
    Mexico                  0.15    0.51    4.13    4.60    4.64    0.00    0.15
                                  201  18 Proj.
World
                     Mar   96.65  340.86  151.27  300.86  343.78  150.60   94.40
                     Apr   96.72  334.81  151.71  299.22  342.03  150.40   90.80
United States
                     Mar    8.21  119.52    0.68   53.34   57.11   56.20   15.10
                     Apr    8.21  119.52    0.68   53.62   57.23   56.20   14.97
Total Foreign
                     Mar   88.44  221.34  150.59  247.52  286.67   94.40   79.30
                     Apr   88.51  215.29  151.03  245.61  284.80   94.20   75.83
  Major Exporters
                     Mar   62.36  171.40    2.61   89.78   97.99   85.20   53.18
                     Apr   62.36  165.90    2.61   88.00   96.22   84.70   49.95
    Argentina
                     Mar   36.22   47.00    2.40   43.00   47.62    6.80   31.20
                     Apr   36.22   40.00    2.40   41.23   45.85    4.20   28.58
    Brazil
                     Mar   25.47  113.00    0.20   43.00   46.50   70.50   21.67
                     Apr   25.47  115.00    0.20   43.00   46.50   73.10   21.07
   Paraguay
                     Mar    0.66    9.20    0.01    3.70    3.78    5.80    0.29
                     Apr    0.66    9.20    0.01    3.70    3.78    5.80    0.29
  Major Importers
                     Mar   22.82   18.20  127.30  120.75  144.73    0.50   23.09
                     Apr   22.81   18.13  127.45  120.95  144.93    0.50   22.95
    China
                     Mar   20.39   14.20   97.00   95.00  110.80    0.15   20.64
                     Apr   20.39   14.20   97.00   95.00  110.80    0.15   20.64
    European Union
                     Mar    1.14    2.50   14.00   14.50   16.15    0.30    1.19
                     Apr    1.10    2.50   14.00   14.60   16.25    0.30    1.05
    Japan
                     Mar    0.21    0.26    3.25    2.35    3.51    0.00    0.21
                     Apr    0.22    0.26    3.25    2.35    3.52    0.00    0.21
    Mexico
                     Mar    0.15    0.48    4.25    4.72    4.76    0.00    0.12
                     Apr    0.15    0.48    4.40    4.87    4.91    0.00    0.12
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