Tridge summary
USDA forecasts Slightly Higher US Oilseed Production in 2021/22:
- Total US oilseed production is predicted to increase slightly to 130.3 million tons in 2021/22, primarily due to increased cotton production.
- Soybean production forecasts have not changed, but soybean oil production will increase due to higher extraction rates.
- Global demand and supply forecasts for oilseeds for 2021/22 predict lower production and closing stocks compared to last month.
- Global oil production is projected at 627.6 million tonnes, down 0.4 million from last month, mainly due to declining soybean production in China.
- World trade in oilseeds for 2021/22 is projected to increase slightly to 196.5 million tons, driven by increased rapeseed exports by Australia and increased soybean exports to Canada and Ukraine.
- Ukrainian oil prices are under pressure due to increased harvests in Ukraine and Russia, and the upcoming harvest from South America in January-February.
- Total US oilseed production is predicted to increase slightly to 130.3 million tons in 2021/22, primarily due to increased cotton production.
- Soybean production forecasts have not changed, but soybean oil production will increase due to higher extraction rates.
- Global demand and supply forecasts for oilseeds for 2021/22 predict lower production and closing stocks compared to last month.
- Global oil production is projected at 627.6 million tonnes, down 0.4 million from last month, mainly due to declining soybean production in China.
- World trade in oilseeds for 2021/22 is projected to increase slightly to 196.5 million tons, driven by increased rapeseed exports by Australia and increased soybean exports to Canada and Ukraine.
- Ukrainian oil prices are under pressure due to increased harvests in Ukraine and Russia, and the upcoming harvest from South America in January-February.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
USA USDA analysts predict that the total production of oilseeds in the United States in 2021/22 plans to be slightly higher at 130.3 million tons - due to increased cotton production. Forecasts for soybeans for 2021/22 have not changed, except that soybean oil production will increase due to higher extraction. As soybean oil supplies increase, soybean oil consumption in food, feed and other industries increases, which compensates for the decline in canola and cottonseed oil consumption. The US price forecast for soybean meal has increased by $ 5.00 to $ 330.00 per short ton. World Global demand and supply forecasts for oilseeds for 2021/22 predict lower production and lower closing stocks compared to last month. World oil production is projected at 627.6 million tonnes, down 0.4 million from last month, mainly due to declining soybean production, according to China's National Bureau of Statistics. Soybean production in China will decrease by 2.6 million tons to 16.4 million tons. ...
Source: Agroconf
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.