United States Department of Agriculture (USDA) eatimates global oilseeds production for 2019-20 at 463.6 million tons, down 3.4 million on lower soybean, cottonseed, sunflowerseed, and rapeseed production.
Soybean production for India is reduced 2.0 million tons to 9.0 million on lower yields resulting from excessive late-season rainfall. Soybean production is also reduced for Canada on lower yields. Other production changes include lower sunflowerseed production for Argentina and lower rapeseed production for Australia and the European Union.
Foreign soybean crush changes for 2019/20 include reductions for India, China, and Canada. Foreign soybean ending stocks for 2019/20 are reduced with lower projections for Argentina, Canada, and India only partly offset with higher forecasts for Brazil and Egypt.