The adjustment of the forecast of the key producers of oilseeds only affected Canada, for which the production estimate was lowered to 8 million tons compared to 8.2 million tonnes expected a month earlier.
The forecast of world soybean exports in the current season has also been slightly increased – to 152.45 (152,43) million tons. As specified, the upward adjustment was made for Argentina to 8.5 (8) million tons. In turn, for USA and Canada rating lowered to 60,55 (61,23) million tons and 5,5 (5,8) million tons respectively.
Global ending oilseed stocks at the end of 2017/18 MG expected at the level of 98.3 million tons, up 0.5 million tons higher than the November forecast. The rating was increased mainly due to the US – to 12.12 (of 11.57) million tons and the EU – to 1.19 (1,03) million tons. At the same time, Brazil and Argentina the figure was revised downward to 21.8, respectively (22,26) million tons and 37,17 (37,55) million tons.
Photo: oproduktah.com
Translated by service "Yandex.Translation"