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Brazil Should End The Year With the Lowest Stock of Soybeans Since 1999

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ABIOVE reduced its projection from 3,865 million tons to 1,465 million tons

Brazil is expected to close the year with the lowest stockpile of soybeans since 1999, according to a forecast by the Brazilian Association of Vegetable Oils Industries (Abiove), released on Wednesday, May 5. With the record forecast for grain exports this year, The company reduced its inventories by 62.1% to 1,465 million tons, compared to 3,865 million tons of the last estimate. If confirmed, this will be the smallest amount of the last 19 years, when the historic series of Abiove began.