USDA: Lower forecast for global oilseed production

Published Dec 10, 2022

Tridge summary

The article highlights revisions to the global production forecasts for various seed crops, including reductions in sunflower, rapeseed, palm seed, and cottonseed production, but a rise in soybean production. Notable downgrades include Canada's canola production and Indonesia's palm oil production for the 2022/2023 season. Conversely, the global soybean outlook remains positive, with increased production, exports, and ending stocks compared to last month, largely due to higher production in India and Ukraine.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Lower sunflower, rapeseed, palm seed and cottonseed production forecasts are partly offset by higher soybean production. The sunflower seed production forecast was downgraded in Russia and Ukraine based on harvest results. Canola production in Canada was lowered by 0.5 million tonnes to 19.0 million tonnes, based on government reports. Indonesian palm oil production in the 2022/2023 season was reduced by 1.0 million tonnes to 45.5 million tonnes. The global soybean outlook includes higher production (391.17 million tons), exports and closing stocks than last month. Production is increasing thanks to higher production for India and Ukraine. Exports ...

Source: Farmer.pl