on a planted and harvested area of 2.56 mln ha and 2.54 mln ha, respectively and yields of 2.76 t/ha. Total supplies of soybeans are estimated at 8.4 Mt, a slight 0.2 Mt drop from last year, as the tripling of carry-in stocks to about 1.0 Mt largely offset the drop in output from 2016-17. Imports are forecast at 0.4 Mt although this value may increase if US soybeans begin to get transhipped through Canada to avoid China’s 25% tariff on the American crop.