December 11, 2014

Total global oilseed production for 2014/15 is forecast to be a record 530.7 million tons according to the latest World Agricultural Supply and Demand Estimates (WASDE) report from the U.S. Department of Agriculture (USDA). The rise of 1.8 million tons from its last estimate is due mostly to an increase in foreign production of soybeans, rapeseed, and sunflower seed. Global soybean production is forecast to be 312.8 million tons with gains being seen in Canada, Ukraine, and Paraguay. Global rapeseed production is projected to be a record 71.9 million tons on increased production in Canada which is forecast by Statistics Canada to reach 15.6 million tons.  Total U.S. oilseed production is forecast to be 117 million tons. The U.S. soybean crush should remain unchanged, and ending soybean stocks for 2014/15 are estimated to be 410 million bushels, down 40 million bushels from the last estimates report, but still the highest ending stock since 2006/07. Global oilseed trade for 2014/15 is projected to be 135.3 million tons, and soybean exports for the U.S., Paraguay, and Canada are expected to climb, offsetting reductions in expected exports for Argentina and Brazil. Global oilseed ending stocks are estimated to be 104.1 million tons – a year over year increase of 23.5 million tons.

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