USDA raises forecast for world production of oilseeds and oils

Published 2023년 11월 13일

Tridge summary

The USDA has raised its forecasts for the world's harvest of major oilseeds and the output of their processed products for the 2023-24 agricultural year. The estimates for agricultural crops like soybeans, rapeseed, sunflower, and cotton have been increased due to factors such as resistance to adverse weather conditions, good yield indicators, and favorable agro-climatic conditions. The forecast for vegetable oils also increased, with noticeable increases in rapeseed oil and soybean oil production, while sunflower oil and palm oil saw smaller increases.

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

Original content

Analysts from the US Department of Agriculture (USDA, publishes forecasts for agricultural indicators not only for the United States itself, but also for other large agricultural countries - ROSNG) have raised estimates for the world's harvest of major oilseeds and the output of their processed products in the 2023-24 agricultural year . This is stated in the department's November report. For agricultural crops, the forecast was increased from 659.36 million tons a month earlier to 661.46. For soybeans, it increased by 920,000 or to 400.42 million tons. This could be facilitated by the crop’s resistance to adverse weather conditions and preliminary good yield indicators. At the same time, the result will probably be higher for all large crop producers. The prospects for rapeseed increased slightly – by 540,000 or to 85.58 million, respectively. The reason for this may be the establishment of favorable agro-climatic conditions for growing the crop, which has not yet been completed ...

Source: Rosng