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Situation and Outlook - June 2001
Global oilseed exports for 2000/01 are expected to reach 67.2 million tons, up 1.2 million tons this month. Soybean exports account for all of the increase. Soybean exports from Brazil and Argentina are increased 600,000 and 500,000 tons respectively due to continued strong import demand, particularly in China.
The global oilseed production estimate is increased to 309.9 million tons this month, up 1.2 million tons. The soybean production estimate for Brazil is raised by 1.0 million tons due to increases in estimated area and projected yield. Other production changes include an increase in peanut production of about 500,000 tons, and an increase in rapeseed production of about 450,000 tons. China’s peanut production is increased by 1.0 million tons due to an increase in estimated yield. A fall in estimated yield reduces India’s peanut production by 400,000 tons, partially offsetting the increase in China. China’s rapeseed production is increased by 400,000 tons.
Overall soybean meal trade is down slightly as importing countries prefer to import soybeans and crush them locally. U.S. exports of soybean meal are estimated at 6.6 million tons, up about 350,000 tons from last month as the European Union, particularly Italy, continues to experience strong soybean meal import demand. Argentina’s soybean meal exports are lowered by about 550,000 tons this month as a slower than expected crush reduces meal availability.
Global oilseeds crush is increased by more than 600,000 tons this month. Major increases are in soybeans (300,000 tons), rapeseed (175,000 tons), and sunflowerseed (130,000 tons).
Global oilseeds ending stocks are increased almost 500,000 tons. The estimate for the 2000/01 world soybean ending stocks is increased this month by more than 400,000 tons despite declines in U.S. and Argentine ending stocks of about 700,000 and 200,000 tons respectively. The increase in Brazilian soybean production this month led to an increase in Brazilian ending stocks of 600,000 tons. Global oilseeds ending stocks for 2000/01 are expected to reach 33.7 million tons.
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Foreign Developments
For additional information pertaining to the summary above and other noteworthy developments within the oilseeds complex see the reports below. All reports are in Adobe Acrobat format (.pdf) unless otherwise noted. These reports, along with others, may also be obtained in both Adobe Acrobat (.pdf) and WordPerfect format (.wpd) by going directly to the Attaché Report section of the FAS homepage at http://www.fas.usda.gov/
Jun 12 2001 | Netherlands | Oilseeds and Products Annual
Jun 11 2001 | South Africa, Republic of | Oilseeds and Products Annual
Jun 11 2001 | United Kingdom | Oilseeds and Products Annual
Jun 8 2001 | Germany | Oilseeds and Products Annual
Jun 6 2001 | Colombia | Andean Community Variable Duties Distort Soy Meal Trade
Jun 6 2001 | France | Oilseeds and Products Annual
Jun 6 2001 | India | Oilseeds and Products Annual
Jun 6 2001 | Russian Federation | Oilseeds and Products Annual
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