October 1, 2014

Global soybean processing will increase 6.5% year on year to reach 253.32 million tons for the 2014/15 season beginning October 1 according to Oil World as the U.S. Department of Agriculture forecasts that farmers worldwide will harvest a record crop.  The growth in crushing will likely be seen in the U.S., Argentina, Brazil, and China.  In Argentina the situation merits watching as the looming massive supply of soybeans could prompt Argentine farmers to sell their hoarded soybeans in the coming months.  U.S. crushing is forecast to increase to a record 49.3 million tons while crushing in Brazil is set to reach 40 million tons.  In China, the world’s top soybean consuming country, crushing is estimated to be 66 million tons – up 3.2 million tons year on year, and crushing in Argentina is forecast to reach 41 million tons – up 5 million tons from the previous season.  Combined global crushing of all other oilseeds excluding soybeans is predicted to fall to 171.54 million tons – 800,000 tons less than the previous season.  Despite increased production of rapeseed and palm kernel, lower supplies of sunflower seeds and groundnuts have pulled down production totals.

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