Global oilseed production forecast increases, particularly soybeans and rapeseed

Published Aug 13, 2024

Tridge summary

Global rapeseed production increased by 0.9 million tonnes to 88.8 million tonnes, primarily due to an increase in the Russian planting area. On the other hand, global sunflower production decreased by 2.3 million tonnes to 52.5 million tonnes due to adverse weather conditions in several countries. The forecast for global soybean production for 2024/25 has been revised upwards by 6.9 million tonnes to 428.7 million, driven by higher production in the US, Ukraine, Russia, India, and Benin. Global soybean exports have also increased by 1.0 million tonnes to 181.2 million, with higher shipments from the US, Ukraine, Russia, and Benin, partially offset by lower exports from Argentina. Finally, world soybean ending stocks for 2024/25 have risen by 6.5 million tonnes to 134.3 million, mainly due to higher stocks in China, the US, and Argentina.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rapeseed and Soybean Forecast Global rapeseed production rose 0.9 million tonnes to 88.8 million tonnes, mainly due to larger Russian area. Global sunflower production fell 2.3 million tonnes to 52.5 million due to unfavourable weather conditions affecting crops in Ukraine, Russia, the EU, Turkey, Serbia and Moldova. Expected global soybean production in 2024/25 rose 6.9 million tonnes to 428.7 million due to higher production in the US, Ukraine, Russia, India and Benin. Production was revised upwards based on forecasts for larger area. What soybean crop? Global soybean exports rose 1.0 million tonnes to 181.2 million due to higher exports to the US, Ukraine, Russia and Benin, partly offset by lower shipments from Argentina. Soybean imports rose for Egypt, EU, Iran and Turkey. World soybean ending stocks for 2024/25 rose 6.5 million tonnes to 134.3 million, mainly due to higher stocks in China, the ...
Source: Farmer.pl
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