U.S. soybean export forecast increased significantly

Introduction: according to the American Soybean Association weekly report, the U.S Department of Agriculture estimates that the global oil seed production in 2001 / 02 will reach a record 318.8 million tons, slightly lower than last month's forecast, but 9 million tons higher than that in 2000 / 01 The United States accounted for more than half of this year's growth Oil seed production outside the United States is likely to reach 227.8 million tons, 3 million tons higher than in 2000 / 01 Peanut and cottonseed were the main parts of the increase, while soybean yield only slightly increased The yield of high oil content seeds is lower than that of last year, with sunflower seed yield decreasing the most, especially in the former Soviet Union At the beginning of the period, the stock of high oil-bearing seeds also decreased significantly, which increased the shortage of plant oil supply Palm oil production in 2000 / 01 is expected to reach 17.2 million tons, 800000 tons higher than last year, but significantly lower than the annual growth of 2.3 million tons in the past three years Global consumption of protein meal and vegetable oil is expected to remain strong in 2001 / 02, with an increase of 3.5 to 4 percentage points Protein meal growth will depend on strong growth in China, the rest of Asia and countries in the Middle East China's protein meal consumption is expected to increase by nearly 10 percentage points, while soybean meal growth is expected to increase by more than 16 percentage points The growth of global vegetable oil consumption is premised on the continued strong growth of consumption in China, Southeast Asia and several countries in the Middle East and North Africa This month, the U.S oil seed inventory is expected to be 105.4 million tons in 2001 / 02, an increase of 2.7 million tons over last year U.S oilseed production is expected to reach 91 million tons, but is 1.2 million tons less than last month's forecast US soybean production is expected to be a record 79.9 million tons US soybean exports are forecast to rise 544000 tons to a record 27.6 million tons, based on the conclusion that China's import demand continues to grow strongly Soybean crushing in the United States increased by 408000 tons to 45.2 million tons, mainly due to the expected increase in soybean meal exports, especially in Southeast Asia In 2001 / 02, soybean oil exports are expected to increase significantly from last month's estimate to 1.04 million tons, reflecting the tightening of global vegetable oil supply and continued strong demand in Southeast Asia.