USDA: Oilseed Estimates - Soybean crops subject to new US crop surveys In its July 2019 issue, the US Department of Agriculture (USDA) has not yet included the expected corrections in the weather-related adverse effects of US soybean sowing in its market assessment. The USDA is conducting a special survey in the US corn-soybean region and will take into account the new outcome in the August report. Therefore, the US harvest estimate of 104 million tonnes is only a rough guide. The global soybean harvest is estimated to have decreased by -8 million t to 347 million t from the previous month. Responsible are - with reservation - lower harvests in the US and the cuts in Argentina. Compared to the previous year, the global soybean market balance is expected to be somewhat smaller . With increasing consumption and declining production, the final stocks will be reduced by approx. 8 million tonnes to 104.5 million . t dismantled. This still provides a comfortable supply of approx.34% inventories measured by consumption. Particular attention is always paid to the world's leading soybean port of China . The USDA remains at its estimate of 87 million t. Import volume. Whether the scale is actually achieved in view of the ASP-related stock reductions in pigs is not certain. The global rapeseed harvest, at 71.4 million t, estimates the USDA considerably lower than in the previous month, with an anticipated influx of almost 75 million t. The cuts were made in Canada's two major production areas, at just 20 million tonnes and in the EU, which is still high at 18.7 million tonnes. Forecasts are already available in both countries. For the other oilseeds, only insignificant changes were made. According to the USDA estimate, the coming palm oil harvest should increase slightly to 76 million t . Somewhat larger harvests are expected in Malaysia. With a low increase in consumption, final stocks will again be at the previous year's level .The stock market prices have come relatively little in motion. Soy fortified at an elevated level. With palm oil there was a slight reset. Rapeseed was also slightly weaker in Paris and Winnipeg, but the prices have recaptured.
