USDA lowers global oilseed production forecast due to drought in Argentina and Paraguay

Published Feb 12, 2025

Tridge summary

The USDA's February report has lowered the global oilseed production forecast by 2.7 million tons to 677.7 million tons, due to reduced soybean yields in Argentina and Paraguay. Trade and ending stocks have remained largely unchanged, but global processing volume and trade in meal have increased. China's dependence on imported soybeans continues to grow, while the consumption of other protein products has led to a decrease in the consumption of meal from imported soybeans. The 22nd International Conference BLACK SEA GRAIN. EUROPE-2025, to be held in Prague, will discuss the further development of the grain sector in the Black Sea and Danube region.

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

Original content

According to the February report from the U.S. Department of Agriculture (USDA), the global oilseed production forecast for this month has been reduced by 2.7 million tons to 677.7 million tons due to lower soybean yields in Argentina and Paraguay, which are not offset by increased cotton production in China and sunflower production in Kazakhstan. Trade remained unchanged at 207.3 million tons, with increased rapeseed exports from the United States compensating for the decrease in sunflower exports from Argentina. Ending stocks of oilseeds have been reduced by 4.3 million tons to 140 million tons due to lower soybean stocks in Argentina and Brazil, as well as lower sunflower and peanut stocks in Argentina. Global processing volume has been increased by nearly 600,000 tons to 561.3 million tons due to higher soybean processing in Brazil, while soybean processing in Paraguay has been reduced. Global trade in meal has increased by 700,000 tons to 108.1 million tons due to ...

Source: UkrAgroConsult