Global oilseed production forecast lower this month; soybean down – USDA

Global oilseed production is forecast lower this month at 579 million tons, the U.S. Department of Agriculture said in its latest World Agriculture Supply and Demand Estimate (WASDE) report.

According to the report, soybean production is down in Argentina, Bolivia, and India, more than offsetting higher Brazil production.

Production estimates for cottonseed are up slightly, with a larger crop in China more than offsetting a lower crop in India.

Sunflowerseed production is down slightly on smaller prospects for South Africa.

Soybean exports are down this month, with lower U.S. exports more than offsetting larger shipments for Brazil.

Global ending stocks for soybeans are down this month, with lower production counterbalancing smaller trade.

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