Washington, DC — Most global oilseed attributes are forecast down this month primarily due to a 4-million-ton drop in Canada rapeseed production and a 2-million-ton dip in U.S. soybean production, according to the Aug. 12 USDA Oilseeds: World Markets and Trade report.
Global 2021/22 oilseed production is forecast at 630 million tons, down 6 million from July. Oilseed imports are down 4 million tons driven by lower EU and China rapeseed imports and lower China soybean imports.
Exports are down 4 million on lower Canada rapeseed and U.S. soybean exports. Global crush is down 4 million tons to 530 million on reduced rapeseed and soybean crush partially offset by increased sunflowerseed crush.
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Global production of protein meals is down 3 million tons. Consumption of meals is down 2 million tons as lower consumption of rapeseed and soybean meal is partially offset by gains in sunflowerseed meal.
Global production of oils is down 1 million tons on lower rapeseed crush and consumption is down slightly. The projected U.S. season-average farm price for soybeans is unchanged at $13.70 per bushel.
To read the full report, click here.
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