The Latest WASDE Data on Soybeans and Oilseeds
U.S. oilseed production for 2015/16 is forecast to be 115.1 million tons - an increase of 1 million tons from the previous U.S. Department of Agriculture (USDA) estimate due to higher soybean production, according to the department’s latest World Agricultural Supply and Demand Estimates (WASDE) report.
U.S. soybean acreage is set at 84.4 million acres – 0.7 million higher than the June estimate. This increase in acreage is lifting the estimate for U.S. soybean output by 35 million bushels to 3,885 million bushels. Soybean yield is remaining steady with the June estimate at 46 bushels per acre. Despite higher production, soybean stocks will be 40 million bushels lower because of lower beginning stocks. Ending stocks for 2015/16 are projected to be 425 million bushels – down 50 million bushels.
Global oilseed production for the 2015/16 season is forecast to be 531.8 million tons, down marginally from the June estimate. Global soybean production is estimated to be 318.9 million tons – up 1.3 million tons because of higher production in the U.S. and Bolivia.
Despite Statistics Canada’s reports of increased planted acreage, rapeseed production in Canada is expected to be reduced due to lower yields. Lower yields are also downgrading rapeseed and sunflower seed production in the EU. China and Russia are also predicted to see lower rapeseed output, while Turkey is expected to see lower soybean output.
Global oilseed ending stocks for 2015/16 are expected to be 102.2 million tons – a drop of 2.4 million tons because of lower soybean stocks in the U.S. and lower rapeseed stocks in Australia, Canada, and the EU.