USDA: Lower forecast for global oilseed production

Less production of oilseeds Global oilseed production was reduced by 6.8 million tonnes to 629.9 million tonnes, mainly due to lower soybean and sunflower seed production in Argentina, partially offset by higher rapeseed production in Australia. World soybean production forecast fell to 375 million tons in March, Argentina's down 8.0 million tons to 33.0 million tons in dry, hot weather. In Uruguay, it also fell by 0.2 million tons to 2.1 million. Estimated rapeseed production in Australia increased by 1.0 million tons to 8.3 million tons thanks to greater area and higher yields. Global Oilseed Trade Forecast Increases Global trade in oilseeds increased by 1.9 million tonnes to 199.9 million tonnes thanks to higher rapeseed and soybean exports. Rapeseed exports from Australia and Ukraine increased as imports to the EU and Pakistan increased. Soybean exports are higher for Brazil and the US, and imports are higher for Argentina, partly offsetting the loss of production. Soybean ...