USDA oilseed report Dec. 2016: production higher than in the previous month - soy prices under pressure The latest market report by the U.S. Department of agriculture (USDA) to the global oilseed market once again delivered an strong increase in the total production amount to 554,6 million tonnes. Compared to the previous year amounts to increase approximately 32 million tons and 6.1%, respectively. With 338 million tonnes of soya bean has the largest share with more than 60%. Rapssaat as second-largest oilseed is on unmodified 67.8 million t is valued and lags significantly behind the results of previous years with over 70 million tons. Sunflower, cottonseed and peanuts each give to the 40 million t; their changes remain small-scale. In the case of the soya market sits the U.S. generation with 118.7 million tonnes clearly at the top. 106.5 million tons were harvested in the previous year. 5 years back the potential amounted to 82 million tonnes just. The high growth rates are the result of extensive acreage, especially in this year of unusually high Flächenerträge of 48 dt / ha. Multi-annual average yields are 40 dt / ha. Rd. 56 million tons of U.S. beans in the export with the mainstream China go after the USDA estimates. Only 52.5 million tons are processed in the United States. The consumption of soybean meal is due to of the increased livestock out bigger. Soy meal exports to GDP with 10 million tonnes against. Soybean oil exports plays no major role with under 1 million t.. At the end of the marketing year, the closing stock with more than 13 million tons by 145% to rise. Is the Brazilian soybean crop unchanged at 102 million tonnes (previous year 96.5 million tonnes) estimated). An earlier harvest date is expected to end Jan-2017. A few months later the Argentine crop is intended to introduce, which is estimated at 57 million tonnes. Export taxes to slow the cultivation of beans for the benefit of tax-free export maize production. Soy consumption focused on China with approximately 99 million tonnes, of which 86 million tons are imported. In addition, targeted production subsidies to China, to increase the production of soya, supplies expected to be only 1 to 2 million tonnes. Is an above-average overestimate be the supply situation in the soybean sector 2016/17 . The calculated surplus stock of 82.8 million t is substantially over the last years by 77 million tonnes. The prices for soy could don't go up despite good specifications from the crude oil and palm oil sector. The high harvest expectations in the South American countries and the already established pre-sales can expect that soybean prices continue to remain at a low level. The USDA estimates the palm oil production unchanged at 64.5 million tonnes compared to the previous month. The low end stocks of 7.3 million tonnes shall ensure that the prices of palm oil at a high level will remain. For the time being, support comes from the higher crude oil price as a result of the decisions of OPEC to cut oil production. Extent to which the decisions are actually implemented, must still prove to be.
