# Larger stocks weaken soybean prices - Food & Agribusiness

> The International Grains Council estimates world soybean production will rise 4% in 2022-23, with consumption growing but not enough to offset output, so global closing stocks are increasing. Brazil has harvested about 90% of its soybean area, with analysts estimating output near 154 million tons, and growers are being pushed to sell amid tight storage. The IGC soybean price index was 21% below a year earlier.

- Date: 2023-04-26 · published 2023-04-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/36427-larger-stocks-weaken-soybean-prices-food-and-agribusiness
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expanding Brazilian supply and rising global stocks add downward pressure on soybean and meal prices for feed buyers. Early US planting progress points to a good crop ahead, reinforcing the bearish outlook.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- foodagribusiness.world: https://www.foodagribusiness.world/feed/larger-stocks-weaken-soybean-prices

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.