USDA forecast predicts decline in global oil seed production, including soybeans

The article provides an update on the agricultural market, focusing on revisions to the production of various oilseeds and soybeans. Production increases are reported for sunflower seeds in Argentina and Moldova, while rapeseed production is reduced in the EU, Moldova, and Ukraine due to smaller planting areas and harvest outcomes. A significant downward revision is made to the palm oil production forecast for Indonesia, based on domestic estimates and actual export reports. The soybean production forecast for Ukraine is also revised downward, leading to a slight decrease in the global soybean production forecast. Global soybean exports are expected to decline, with Thailand reducing imports and crushing activities, and the global ending stocks of soybeans are projected to rise slightly.