USDA experts lowered the forecast for oilseed production in the world but raised estimates for Ukraine

In a September report, USDA experts lowered the forecast for global production of oilseeds, including soybeans in the United States and canola in Canada, partially offset by an increase in sunflower and canola crops in Ukraine and canola in Australia. Compared to the August estimates, the new oil balance for the 2023/24 MR underwent the following changes: For Ukraine, the sunflower export forecast for 2023/24 MR has been increased by 0.15 to 0.95 million tons, while for 2022/23 MR it has been reduced by 0.125 to 1.9 million tons. Sunflower consumption in 2023/24 MR is estimated at 13, 3 million tons, and for 2022/23 MR, the estimate of consumption was increased by 0.9 to 13 million tons. For the EU, the sunflower import forecast for 2023/24 MR is left at the level of 0.8 million tons, as it is not yet known whether Bulgaria will lift the ban on sunflower supplies from Ukraine. At the same time, for 2022/23 MR, the estimate of imports to the EU was reduced by 0.3 to 1.6 million ...