USDA experts sharply lowered the forecast of global oilseed production in 2024/25, in particular soybean in the US

게시됨 2024년 11월 11일

Tridge 요약

The USDA Report for the MY 2024/25 agricultural season has made significant revisions to the crop forecasts, notably reducing soybean production to 121.42 million tons from the initial estimate of 124 million tons due to heavy Brazilian rains and potential Chinese import decreases post-Trump's victory. This downward adjustment has slightly impacted the Chicago board of trade's soybean prices. Furthermore, global rapeseed and sunseed production forecasts have also been lowered, with the EU seeing a decrease in production estimates for rapeseed and sunflower. These revisions are part of a larger global agricultural trend that is influencing oilseed markets, with the situation in Australia (canola harvest) and Ukraine (sunflower) being particularly critical for market dynamics.

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원본 콘텐츠

n forecast was reduced by 3.28 to 121.42 million tons, while analysts had forecast yields at 52.8 bushels/acre and production at 124 million tons. Compared to the October estimates, the new soybean balance sheet for MY 2024/25 has undergone the following changes: On the basis of the report, the November soybean futures on the Chicago stock exchange rose sharply, but at the end of Friday’s session rose only 0.1% to 373,6 $/t (+1.2% compared to the data after the release of the October report), as remain under pressure from heavy rains in Brazil and forecasts of reduced soybean imports by China after the victory of trump. The forecast of world rapeseed production in MY 2024/25 was reduced by 0.2 to 87.24 (89.89) mln tonnes, in particular, for the EU – by 0.1 to 17.35 (19.98) mln tonnes, while for Canada and Australia the estimates were left unchanged at 20 and 5.5 mln tonnes, respectively. The estimate of world ending stocks was left at 8.05 (10.1) million tons. After the release of ...

출처: UkrAgroConsult