The volume of global oilseed production will almost not change, and the final reserves will increase

In the September supply and demand balance, USDA experts lowered their forecast world production of oilseeds crops in 2021/22 MG by only 0.36 million tons to 629.16 million tons (601.14 million tons in 2020/21 MG), as the expected decrease in the canola crop in Canada by 2 million tons will be offset by an increase in soybean production in the United States by 1 million tons and rapeseed in Australia.

Forecast global processing oilseeds were reduced by 1.27 million tons to 528.2 million tons (511.4 million tons in 2020/21 mg), and the estimate of final inventory increased by 2.4 million tons to 111.25 million tons (109.68 million tons in 2020/21 MG).

Soybean balance for my 2021/22, it was changed in comparison with the August report as follows:

• the forecast of initial reserves was raised by 2.26 million tons to 95.08 million tons,
• the production estimate was reduced by 0.79 million tons to 384.42 million tons (363.27 million tons in my 2020/21 and 339 million tons in my 2019/20),
• consumption forecast lowered by 0.22 million tons to 378.37 million tons (365.06 million tons in my 2020/21),
• the forecast for final reserves was raised by 2.74 million tons to 98.89 million tons.

Analysts expected that after increasing the area of sowing and harvesting of soybeans, the forecast of its production for the United States will be increased by 2 million tons. but USDA experts reduced the area of soybean harvesting in the United States by 0.3 million acres to 86.4 million acres (82.3 million acres in 2020/21 mg), and increased the yield estimate from 50 to 50.6 bushels/acre (50.2 bushels/acre in 2020/21 MG), as a result of which the production forecast was increased by 1 million tons up to 119.04 million tons.

For China, Import and processing estimates remained unchanged, while the estimate of initial soybean reserves was increased by 2 million tons, as a result of which the final global reserves will also grow by 2 million tons to 35 million tons.

November soybean futures at Chicago SWOT rose 1.2% to п'ятницю 468.5/ton on Friday, as traders took forecast data into account in their strategies.

Forecast world rapeseed production in my 2021/22, it was reduced by 1.8 million tons to 68.17 million tons (72.28 million tons in my 2020/21) due to a reduction in the canola crop in Canada by 2 million tons to 14 million tons (19 million tons last year) and rapeseed in the EU by 0.2 million tons to 16.8 million tons (16.25 million tons last year), which partially compensates for the increase in the harvest in Australia.