USDA: Lower July forecast for global oilseed production

USDA: Niższa lipcowa prognoza światowej produkcji nasion oleistych

Oilseed production forecast declines

Sunflower seed production is limited due to lower yield prospects in Russia and Ukraine due to hot and dry weather early in the season.

Rapeseed production for Canada and the EU is increased. Foreign soybean production remains unchanged, with higher production in Canada offset by lower production in Russia.

USDA: lower global production forecast for oilseeds, including soybeans

Soybean market in the 2023/2024 and 2024/2025 seasons

Argentina's soybean production for 2023/24 was revised downward by 0.5 million tonnes to 49.5 million tonnes, based on data from the Argentine Ministry of Agriculture.

China's 2023/24 soybean imports are revised upwards by 3.0 million tonnes to 108.0 million tonnes due to larger-than-expected shipments expected in the fourth quarter of the marketing year. Exports to Argentina, Brazil, Paraguay, Benin and Canada were also increased in the 2023/2024 season.

Global 2024/2025 soybean initial stocks increased slightly, with higher stocks in China mainly offset by lower stocks in Argentina, Brazil and Paraguay due to adjustments for 2023/24.

With slightly higher initial stocks, lower global production of 421.85 million tonnes) and relatively little change in use in 2024/25, global soybean stocks decrease by 0.1 million tonnes to 127.8 million tonnes due to lower stocks in Argentina , Brazil, Paraguay, Russia, EU and US, mostly offset by higher stocks in China.