USDA: Oilseed crop 2022/23 with growth

USDA estimates higher global oilseed harvest The US Department of Agriculture (USDA) estimates that the global oilseed harvest for 2022/23 will be 8.4% higher than in the previous year. The larger soybean harvest , with growth of 12.3%, has a significant influence on the increase. The increase in the global rapeseed harvest by 13.2% also contributed to the higher overall harvest estimate. According to estimates by the USDA, global consumption of oilseeds is only expected to increase by 3.3%. The sharp rise in prices is dampening demand. Soybean oil and soybean meal, which are affected in the utilization directions human nutrition, industrial consumption and animal feed, have a decisive share. The result of increasing production and restrained consumption is an almost 15% increase in ending stocks to almost 120 million tons, of which 100 million tons are soybean alone. The USDA estimates a global soybean harvest of 395 million t (previous year 352 million t).Brazil , which is expected to increase this year's harvest from 126 million tons in spring 2023 to 149 million tons , has a significant share in this. The USA expects a larger harvest of 126 million tons for autumn 2022 due to the area under cultivation. An average result of 51 million t is again forecast for Argentina . On the use side, China's consumption of 116.5 million tons is significant, of which 99 million tons are imported. Chinese imports are coming from Brazil to an increasing extent and the United States to a decreasing extent. The EU-27 has been importing around 15 million tonnes of soybeans and 16.7 million tonnes of soybean meal for years. The trend is rather downward due to increased home production and limited animal husbandry. The large increase in the global rapeseed harvest is due to the increase from 12 to 20 milliont of the Canadian crop after the disastrous previous year. The EU rapeseed harvest is estimated at 18.25 million t . The EU import requirement is estimated at 5.6 million tons . Futures prices on the stock exchanges (as of 10.06.2022)

Future stock market prices show little inclination for a fundamental price reduction until the end of this calendar year.A usual supply pressure in the harvest phase does not appear for the time being.