September 26, 2014

Total global oilseed production for 2014/15 is forecast to increase by 4.3% to reach a new record of 519.7 million tons – up from 498.2 million tons for 2013/14 according to Oil World.  As good weather conditions continue, a bumper soybean crop is expected to be harvested in the U.S. climbing to 106.5 million tons, up from 98.2 million tons last year with the country’s domestic soybean stockpile reaching 12 million tons by August 2015, up from 3.4 million tons in August 2014.  Consecutive years of significantly increasing global soybean production is translating into a surplus scenario that will likely cause prices to temporarily fall below the cost of production.  Global rapeseed and canola harvests are predicted to climb to 68.8 million tons – up from 67.3 million tons as global sunflower seed production is expected to fall to 41.4 million tons from 42.5 million tons last year.  Total combined global oilseed meal production is expected to be 318 million tons – up from 305.7 million tons led by an increase in soybean meal production which will equal 199.5 million tons up from 187.3 million tons.  Global crushing is predicted to increase 3.6% to 424.9 million tons as soybean crushing is set to be 253.3 million tons up from 237.8 million tons.

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