USDA Estimates Indian Soyabean Crop At 9 Million Tonnes For MY 2017/18

The latest report of United States Department of Agriculture (USDA) has revised down the MY 2017/18 soybean production from 9.5 MMT to 9 MMT (Table 6) to indicate slightly lower than anticipated (average) yields. Industry and Post sources indicate intermittent dry weather from late July to mid-August in Madhya Pradesh and Maharashtra, and an extended dry period from late August through September in Rajasthan which have curtailed the expected soybean recovery. The soybean crush estimates however remain unchanged, while domestic consumption (food and residual use) is estimated down slightly.