World production of oilseeds in the 2026/27 season is estimated at 718.1 million tons, which is 2.8%, i.e. 19.6 million tons higher than the level of the current season. The growth is due to the expansion of harvested areas by 2.3% to 280.8 million hectares and an increase in average yields by 0.8% to 2.56 tons/ha.
Oilseed processing will grow by 3.6% to 606.6 million tons, a record high. It will be supported by an increase in soybean processing in the US, Brazil, China and Argentina; sunflower processing in Ukraine, the EU, Russia and Argentina; and an increase in canola processing in Canada.
Final stocks will be 146.7 million tons (with a 13.6% balance). This is slightly higher than in the current season (144.3 million tons), indicating a relatively steady supply of the commodity. Presumably – this will restrain further price growth.
World oilseedexports will rise by 1.3% to 217 million tons, reflecting growing demand from processors.
Following the report, July soybean futures in Chicago rose by 1.1% to $450.8/t (+5.3% after the April report), with November futures trading $8/t cheaper, ukragroconsult writes with reference to GrainTrade.
This week, August rapeseed futures in Paris rose 1.4% to €522/t or $615/t (+5% for the month). Oilseed markets remain under pressure from oil price hikes, keeping palm and soybean oil prices high, although physical markets are seeing increased supply and importers are cutting prices in anticipation of a larger crop next season.
