Global 2022/23 oilseed production forecast lowered as Ukraine war bites

Published 2022년 6월 12일

Tridge summary

The USDA's latest report on global oilseed production forecasts a slight decrease from May, due to reduced sunflowerseed in Ukraine and rapeseed in the EU, despite increases in soybeans in Ukraine and Zambia, and rapeseed in Australia and the US. Oilseed exports and vegetable oil trade are also slightly lower, while protein meal exports have also reduced due to lower production in Ukraine and India. However, Argentine soybean stocks have increased, leading to a projected record season-average farm price for soybeans in the US. The report also looks at the global oilseed market dynamics for the 2021/22 season, highlighting changes in production, imports, exports, and stocks.

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

Original content

Global 2022/23 oilseed production is forecast at nearly 647 million tons, slightly lower compared to May, as reduced sunflowerseed in Ukraine and rapeseed in the European Union more than offset gains for soybeans in Ukraine and Zambia and rapeseed in Australia, the U.S. Department of Agriculture (USDA) said in its latest monthly report. Oilseed exports are raised on Australia rapeseed and Ukraine soybeans which exceed a reduction for Argentina sunflowerseed, it said, adding that global vegetable oil trade is slightly lower on reductions for Ukraine sunflowerseed oil exports which more than offset gains for Turkey sunflowerseed oil and Canadarapeseed oil exports. Global protein meal exports are slightly lower this month following reduced sunflowerseed production in Ukraine as well as lower rapeseed meal in India. The USDA said global oilseed stocks are up nearly 1 million tons primarily on larger Argentina soybean stocks. The projected U.S. season-average farm price for soybeans ...

Source: Indoasiancommodities