Feed & Additive Magazine Issue 3 April 2021

MARKET REPORT 84 FEED & ADDITIVE MAGAZINE April 2021 S oybean, which has the highest protein value among oilseeds, is a versatile plant with its struc- ture that does not contain cholesterol and saturated fats, and high-quality protein content. Soybean, which is used extensively in both animal and human nutri- tion, is generally extruded, separated into oil and pulp. Soybean meal is used extensively, especially in the pro- duction of poultry feed and cattle feed. Soybean meal, which is used to balance the rations of farm animals and to complete the amino acid deficits, is a product with a high degree of digestion. As it is a major source of protein in the feed industry all over the world, it is a feed raw material strategi- cally traded every day of the year. LATEST EXPECTATIONS IN SOYBEAN PRODUCTION In its latest report published in March by the International Grain Council (IGC), it is estimat- ed that world soybean production, which was 363 million tons in the 2018/19 season, decreased by 25 million tons in the 2019/20 season and stood at 338 million tons. However, the increase expectation for the 2020/21 season still continues. The latest forecast made by the IGC is that the production will be 361 million tons in the current season. The IGC also announced the projection for the 2021/22 season in March, unlike the previous months. The IGC's projection for the next season marks a re- cord increase with 383 million tons. Likewise, the March report of the US Department of Agriculture (USDA) Foreign Agricultural Service provides the same data as the IGC report and supports an in- crease expectation. However, the increase in production is not enough to meet the demand for soybeans. According to the IGC data, world soybean consumption, which was 346 million tons in the 2018/19 season, reached Feed Raw Materials: SOYBEAN & 2021 EXPECTATIONS Expectations for an increase in soybean production continued in March. The harvest, which started in southern hemisphere countries such as Brazil and Argentina, which are the biggest exporters, will clarify the expectations for the season. Due to the current environment and expectations, it indicates that soybean prices, which have shown a slightly more flat course since January, will continue in this line for a while. The most promising development for prices will be the increase in production announced by IGC in its 2021/22 projection. By Bahadır Büyükkılıç