World: USDA experts raise sunflower production forecast and lower 2024/25 soybean and canola harvest estimates

Published 2024년 10월 13일

Tridge summary

The October WASDE report leaves global oilseed production forecast unchanged at 687.32 million tons for FY 2024/25, with a slight increase in sunflower production and a decrease in rape and soybeans. Production forecasts have been adjusted based on changes in acreage and yields in various countries. The soybean balance for FY 2024/25 remains steady, impacting futures prices. Rainfall patterns in Brazil could influence future quotes. The global rapeseed production forecast for 2024/25 has been reduced, but exports and EU import forecasts have increased. World final sunflower and rapeseed stocks forecasts have been adjusted. The results of harvesting in Canada, Australia, Ukraine, and the Russian Federation will impact the markets.

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

Original content

In the October WASDE supply and demand report, USDA experts left the forecast for world production of oilseeds in FY 2024/25 at 687.32 million tons (657.56 million tons in FY 2023/24), although the forecast for sunflower production was increased by 0.14 million t, and rape and soybeans decreased by 0.12 and 0.28 million tons, respectively. Sunflower production estimates have been raised for Argentina and Moldova due to increased acreage, while soybean production forecasts have been lowered for Ukraine and rapeseed for the EU, Moldova and Ukraine due to low yields and reduced acreage. Compared to the September estimates, the new soybean balance for FY 2024/25 is almost unchanged: Based on the report, November soybean futures on the Chicago Stock Exchange fell 1% to $369.3/t (-0.5% compared to data after the September report). Rainfall predicted in the central regions of Brazil will increase pressure on soybean quotes in the near future. The forecast of global rapeseed production ...

Source: Graintrade