The 2024/25 US oilseed production forecast is 131.2 million tons, slightly higher due to higher cottonseed production. Soybean supply and usage projections remain stable, while soybean oil production rises due to a higher extraction rate.
Export projections for soybean oil are raised by 500 million pounds, reaching 1.1 billion pounds, supported by strong export commitments. Global oilseed production is up, driven by higher soybean production forecasts, especially for Argentina, Bolivia, and Canada.
Rapeseed production sees a decline due to lower yields in Canada. Global soybean exports and vegetable oil stocks are adjusted in light of shifting global production dynamics.
The US soybean price forecast has been lowered to $10.20 per bushel, reflecting a $0.60 decline from the previous estimates, while soybean meal and oil prices remain relatively stable.
