WASDE Oilseeds: Domestic Soybean Production Increased

Published 2020년 7월 10일

Tridge summary

The article reports a slight decrease in the U.S. oilseed production projection for 2020/21, despite an increase in soybean production and harvested area. This is balanced by reductions in canola, sunflowerseed, and cottonseed production. Soybean supplies and crush are increased, leading to higher ending stocks. The U.S. soybean price for 2020/21 is projected to rise, and global oilseed supply and demand forecasts have been adjusted, with lower production, exports, and ending stocks compared to last month. Brazil's 2019/20 crop and export projections have been increased, while China's balance sheet changes have resulted in higher beginning stocks and lower ending stocks for 2020/21.

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

Original content

U.S. oilseed production for 2020/21 is projected at 122.8 million tons, down 0.4 million from last month, with increases for soybeans and peanuts offset with reductions for canola, sunflowerseed, and cottonseed. Soybean production is projected at 4.14 billion bushels, up 10 million on increased harvested area. Harvested area, forecast at 83.0 million acres in the June 30 Acreage report, is up 0.2 million from last month. The soybean yield forecast is unchanged at 49.8 bushels per acre. With higher beginning stocks, 2020/21 soybean supplies are raised 45 million bushels. Soybean crush is raised 15 million bushels reflecting an increase in domestic soybean meal disappearance which is raised in line with an increase for 2019/20. With projections for exports unchanged, 2020/21 soybean ending stocks are increased 30 million bushels to 425 million. Soybean changes for 2019/20 include higher crush, lower residual use, and higher ending stocks. Soybean residual use is reduced 50 million ...

Source: Agfax