The USDA has lowered its estimate of global oilseed production in the 2023-24 agricultural year

Published 2023년 12월 12일

Tridge summary

The USDA has reduced the estimate of the world oilseed harvest for the 2023-24 agricultural year to 660.99 million tons, which is 470 thousand tons more than the November forecast but 2.06 million less than the previous year. The decrease in forecasts for oilseed collection in the United States and Brazil contributed to the positive adjustments, while the year-on-year decline is attributed to a slight deterioration in the situation for certain crops at the initial stage of sowing. The estimate of processing volumes of major oilseeds increased slightly, and forecasts for the export of oilseeds also increased but are still less than the previous year.

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

Original content

Analysts from the US Department of Agriculture (USDA, provides data and forecasts on agricultural indicators not only in the States themselves, but also in other major producing countries - ROSNG) have reduced the estimate of the world oilseed harvest in the 2023-24 agricultural year (starts in different months of the calendar year in different countries) up to 660.99 million tons. OleoScope reports this with reference to data from the department’s December report. This is 470 thousand tons more than the November forecast, but 2.06 million less than the level of the last agricultural year. According to experts, such positive adjustments occurred due to a decrease in forecasts for the collection of oilseeds in the United States itself, as well as in one of the main producing countries, Brazil. At the same time, the year-on-year decline is associated with a slight deterioration in the situation for certain crops at the initial stage of sowing. In particular, the harvest of major ...

Source: Rosng