USDA: Decrease in the forecast of world production of oilseeds, including soybeans

Less soy production This is partially compensated by higher rapeseed production in Poland and higher sunflower production in Argentina. India's soybean production was reduced by 1.0 million tonnes to 11.0 million tonnes as near-record rains in September coupled with historic drought in August negatively impacted the harvest. The forecast for global soybean production decreased from 1.8 million tons to 399.5 million tons. Lower soybean exports and ending stocks Global soybean exports in 2023/2024 fell by 0.2 million tonnes to 168.2 million tonnes, with lower exports from the US partially offset by higher supplies from Brazil. Soybean imports to Pakistan have been reduced. Global soybean processing increased by 0.8 million tons to 328.5 million tons due to the increase in milling in China and the USA. China's milling production increased from 1.0 million tonnes to 97.0 million due to higher demand ...