USDA – Oilseeds: World Markets and Trade, Sep 2024

The September 2024 report by the U.S. Department of Agriculture (USDA) provides a comprehensive analysis of global oilseed markets, focusing on production, consumption, and trade dynamics. This edition highlights a slight decrease in the global oilseeds production forecast, primarily due to a reduced outlook for Australian rapeseed. Consequently, global oilseeds trade projections have been adjusted downward, reflecting lower Australian rapeseed exports. The report also notes a decline in oilseed ending stocks, attributed to reduced inventories of Brazilian soybeans and global rapeseed. Additionally, global crush estimates have been trimmed, mainly due to decreased rapeseed utilization. Despite these adjustments, the U.S. season-average farm price for soybeans remains unchanged at $11.20 per bushel.