USDA estimates global oilseed supply close to last year's level - soybean losses In the June issue, the US Department of Agriculture slightly reduced global oilseed production to 598 million tonnes year-on-year. The soybean production, which fell by 7 million t to 355 million t , made a considerable contribution to this. For the other oilseeds, only minimal corrections have been made. On the consumption side, volumes are around 9 million tonnes at approx. 503 million t increased . In this case too, soy provides the overwhelming share with an increase in processing of + 7 million t . The overlay stocks change only slightly compared to the previous year. The high level of 130 million tonnes will be maintained for the time being and dominated by soybeans (86.5%). The soybean sector is overshadowed by the trade tensions between the USA and China as well as by the weather-related sowing difficulties in the USA.Despite all the problems, the USDA is sticking to its previous month's estimate of approx. 113 million tons of US beans . The Brazilian bumper harvest of 123 million tonnes is again confirmed. The Argentine harvest is downgraded to 53 million tonnes compared to 56 million tonnes in the previous year. In contrast, the USDA forecasts a steady rise in soybean production in China, which is expected to rise from the previously 12 million tonnes to the current 17 million tonnes. China's outstanding soya imports are shrinking to 87 million tonnes, according to USDA data . The lack of demand for African swine fever in China is a major factor. Chinese trade tensions with the US are changing the flow of goods. Brazil will become the world's largest exporter with 75 million tonnes , and the US will fall to 53 million tonnes . Both countries together control 85% of world trade in soybeans.However, soybean exports will still be from Argentina with approx. 31 million t led. By comparison, the 15 million tonnes of Brazil and 12 million tonnes of the United States have fallen significantly. The USDA still estimates the world rapeseed harvest at an astonishingly high level of 74 million tonnes . The EU expects 19.7 million tonnes , although forecasts of less than 18 million tonnes have already been submitted. The Canadian harvest is unusually large at 21.1 million tonnes . In Canada itself, forecasts are published below the 20 million t mark. However, the Indian rapeseed harvest was withdrawn with only 7.7 million t. Indonesian and Malaysian controlled palm oil production continues to be estimated at 75.5 million tonnes a month ago .The soybean prices on the Chicago Stock Exchange have set their short soaring and are moving back down to a reduced level of € 280 / t . In principle, this also applies to soda ash , but the decline has remained at a level well above € 300 / t . The rape courses in Paris are also giving way again. Pollen prices are also at a low price.
