Fears of a record-breaking global soybean harvest and insufficient demand are hurting prices

Brazil is on track for a record-high Brazilian soybean harvest in the marketing year 2022-23 (January-December 2023), based on forecasts from commodity consultancies and government-owned institutions. The likely estimate means a looming oversupply expected to remain until at least mid-2023. The various organizations’ average estimates have the world’s top soy supplier producing a record 152 million tons of soybeans in MY 2022-23, up 20% year-on-year. S&P Global Commodity Insights projects the Brazilian…
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