United States: Domestic oil crops outlook

Published 2022년 7월 2일

Tridge summary

The article highlights the strong demand for U.S. soybeans, both for the current marketing year and the upcoming 2022/23 season, noting exceptional exports in April and increased sales to traditionally Brazil-purchasing countries. It also discusses the impact of high demand on ending stocks and the U.S. crop's planting progress, which slightly lags behind the average due to challenging conditions in Minnesota and North Dakota but remains on track with a 5-year average of 88% as of June 12. The article also mentions the support for soybean oil prices from biofuel demand and anticipates a positive outlook for domestic crushing, with a raised export forecast for the 2021/22 marketing year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Strong Demand for U.S. Soybeans Persists Major South American soybean-producing countries typically capture a large portion of the soybean export market during the second half of the October–September marketing year. However, U.S. exports in April proved to be exceptionally strong. This looks to continue during the summer as outstanding sales of U.S. soybeans to countries typically purchasing larger quantities from Brazil at this time of the year are high. These factors contribute to a brighter outlook for 2021/22 U.S. soybean exports. Anticipations of a tighter soybean supply in 2022/23, relative to last month’s forecast, stem from increased foreign demand for old-crop U.S. soybeans.Demand for Old-Crop U.S. Soybeans Trims Ending Stocks In April, a slight dip in the daily soybean crush rate was observed. Nevertheless, soybean crush margins remain strong as processors crushed nearly 181 million bushels. Although central Illinois soybean meal prices have fallen over the past 2 ...

Source: Beef2live