The USDA has lowered its forecast for global oilseed production, particularly for soybeans, but prices are falling under pressure from increased supply.
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In the November world balance of oilseeds for 2025/26 MY, FAS USDA experts reduced the forecast of global oilseed production compared to September estimates by 3.54 million tons to 688 million tons, which is still 4.25 million tons higher than the previous season's figure of 683.75 million tons (656.73 million tons in 2023/24 MY). The forecast for global soybean production was reduced by 4.1 million tons (due to reduced production in the USA, Ukraine, and India), sunflower by 1 million tons (because the decrease in yield in Ukraine, Russia, the EU, and Turkey is partially offset by an increase in Argentina), while the forecast for global rapeseed production was increased by 1.31 million tons due to increased production in the EU, Australia, Ukraine, and the UK. According to USDA, global oilseed processing in 2025/26 MY will decrease by 1.58 million tons to 578.37 (566) million tons due to reduced soybean and sunflower processing, but rapeseed processing will increase. The forecast ...