SOPA says India Oct 1 soybean carryover stock view cut to 1.4 million metric tonne

India’s soybean carry-over stocks estimate as on Oct 1 has been revised lower to 1.39 million metric tonne from 1.59 million metric tonne. Soybean carry-over stocks has been revised lower on fresh export data of soymeal for August, thus updating total exports for Oct to August in 2016-17 to 1.97 million metric tonne. For the new season starting October, soymeal exports were pegged at 67,000 metric tonne as compared to 44,383 metric tonne a year ago. The output of soybean in the 2017-18 (Oct-Sep) is estimated at 9.15 million metric tonne down 16.8% on year.