Oilseeds: U.S. soybean production down on decreased yields

Published 2022년 10월 12일

Tridge summary

The article forecasts a decrease in U.S. oilseed production for the 2022/23 season, with a drop in soybean, peanut, and cottonseed production, but a rise in canola and sunflowerseed forecasts. Soybean production is expected to decline by 65 million bushels due to lower yields. Exports of U.S. soybeans are also predicted to decrease, leading to unchanged ending stocks. The average price of soybeans is forecasted to be $14.00 per bushel, down 35 cents. Globally, oilseed production, crush, trade, and ending stocks are expected to increase, with higher production in the U.S., Brazil, and the EU, and increased soybean exports and imports, particularly in China.

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Original content

U.S. oilseed production for 2022/23 is forecasted at 126.9 million tons, down 1.6 million from last month with lower soybean, peanut, and cottonseed production partly offset with higher forecasts for canola and sunflowerseed. Soybean production is forecast at 4.3 billion bushels, down 65 million on lower yields. Harvested area is unchanged at 86.6 million acres. The soybean yield is projected at 49.8 bushels per acre, down 0.7 bushels from the September forecast. With lower production partly offset by higher beginning stocks, supplies are reduced 31 million bushels. Soybean exports are reduced 40 million bushels to 2.05 billion with increased competition from South America. With lower exports partly offset by increased crush, ending stocks are unchanged from last month at 200 million bushels. The U.S. season-average soybean price for 2022/23 is forecast at $14.00 per bushel, down 35 cents. Soybean meal and oil prices are unchanged at $390.00 per short ton and 69 cents per pound ...

Source: Agfax