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USDA Oil Crops Outlook


14 April 2015

USDA Oil Crops Outlook - 14 April 2015USDA Oil Crops Outlook - 14 April 2015


USDA Oil Crops Outlook

U.S. Soybean Stocks Getting Worked Down by Record Demand

In USDA’s Prospective Plantings report on March 31, farmers indicated that they would plant 84.6 million acres of soybeans in 2015/16, as less corn and cotton are planted this year than in 2014/15. U.S. planting intentions for sunflowerseed this year are up 14 percent over last year to 1.786 million acres. U.S. intended acreage for peanuts in 2015/16 is up 9 percent to 1.481 million acres. In contrast, U.S. acreage intentions this year for canola are down 9 percent to 1.554 million acres and for cotton, down 13 percent to 9.55 million acres.

Global soybean production for 2014/15 is forecast 407,000 metric tons higher from last month (to 315.5 million). Argentine soybean production for 2014/15 was forecast 1 million tons higher from last month to a record 57 million due to high soybean yields in areas untouched by February flooding. USDA lowered its 2014/15 soybean production estimate for India this month by 700,000 tons to 9.8 million.

Published by USDA Economic Research Service

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