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Post increased its forecast for soybean planted area to 40.5 million hectares for 2021/22, up from 39 million hectares in 2020/21.
On October 1, 2021, Mexico published a tariff rate quota (TRQ) applicable to soybean imports from all trading partners, which took effect immediately and will be in force through December 31, 2021.
Post lowers its MY 2021/22 projected planted area for soybeans to 17.0 million hectares. This reduction of 500,000 hectares will translate to total projected production of 49.7 million metric tons, 2.3 million metric tons below the USDA Official estimate.
Post is adjusting its MY 2021/22 crude palm oil (CPO) production forecast down 1.5 million metric tons (MT) from the USDA Official estimate to 18.2 million MT.
Vietnam continues to struggle through its fourth Covid-19 outbreak which began in May 2021. The latest, and most severe outbreak has negatively affected the livestock and aquaculture sectors, as well as total feed demand due to strict government regulations and restrictions.
Turkey’s marketing year (MY) 2021/22 sunflower seed area and production is estimated at 760,000 hectares and 1.75 million metric tons (MMT) respectively.
Graphic showing the percentage of U.S. agricultural production which is exported overseas. All told, more than 20 percent of U.S. agriculture is exported.
In order to maintain soybean processing at normal levels, Argentina is importing US soybeans for the first time in over two decades.
Post forecasts 2015/16 soybean area at 20.3 million hectares, marginally lower than Post’s 2014/15 area estimate, though up 2.5 percent from USDA 2014/15 estimates.
ATO Beijing recently visited China’s major food-grade soy trade show, and spoke with local soy food producers to explore U.S. food-grade soybean export potential.
Sunflower and rapeseed planted areas are projected to increase for MY2018/19.
The Indian Meteorological Department (IMD) forecast a near normal Southwest Monsoon for 2018 suggesting that June to September rainfall is likely to be 97 percent of the Long Period Average (LPA).