The global 2019/20 oilseeds supplies have been lowered by 1.20 million tonnes to 469.70 million tonnes, as per the latest update from United States Department of Agriculture (USDA).
Lower soybean, rapeseed, and peanut production are partly offset by higher sunflowerseed output. Rapeseed production is lowered for the EU mainly on a lower area and yield for France.
Indias soybean and peanut harvested area is reduced due to slow planting progress to date. Ukraines sunflowerseed production is forecast higher, as timely rainfall in late July and early August boosted yield prospects.
Global 2019/20 oilseed exports are reduced 3.0 million tons mainly on a 2-million-ton reduction to soybean trade.
Chinas soybean imports are lowered 2 million tons to 85 million reflecting lower soybean meal crush in 2019/20. With crush also lowered in 2018/19, Chinas protein meal consumption growth is forecasted flat in 2019/20.
Global 2019/20 soybean ending stocks are lower relative to last month due to lower stocks in the United States and China.