Oilseeds: World Markets and Trade Global Oilseed Demand Growth Forecast to Outpace Production (Again)

Global oilseed production is forecast to grow slightly in 2018/19. Soybean production is
projected up, as Argentina is forecast to rebound from this year’s drought, offsetting year-overyear
declines in production of the United States. Rapeseed and sunflowerseed are both forecast
to continue their growth in production. The palm kernel crop is expected higher in line with palm
oil production. Peanut and cottonseed production are expected to decline.
Global oilseed consumption is forecast to rise, led by growth in China’s soybean crush. Global
soybean demand, measured by total domestic consumption, is expected to grow at a solid rate,
slightly lower than production growth. Consumption of other oilseeds is expected up as well,
with the exception of cottonseed where global supplies are reduced.
Global oilseed trade is forecast up on higher demand from China. Global ending stocks are
projected to fall, as lower carryin stocks coupled with increased consumption will result in lower
ending stocks for 2018/19. While the ending stocks of palm kernel and rapeseed are expected to
grow, all other oilseed stocks, led by cottonseed and peanuts, are expected to fall.

Fuente: USDA

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