Money Market Guru — As per latest release from United States Department of Agriculture (USDA), the total oilseeds production (canola, soybean, and sunflower seed) in 2017/2018 is forecast at 25.3 million metric tons (MMT), up 1percent from 2016/2017.
Crush in 2017/2018 is forecast to drop 4 to 10.5 MMT from 11 MMT in 2016/17 due to low carry-in stocks and only a modest rise in overall oilseeds production available for crushing. Canadian oilseed exports are forecast to remain virtually unchanged at 14.230 MMT in 2017/18 from 14.232 MMT in 2015/16.
Canadian Dollar and strong crush capacity are expected to support Canadian oilseed exports in 2017/2018. Total meal production in 2017/2018 is forecast to drop by 3 percent to 6.4 MMT from 6.6 MMT in 2016/17 due to a very limited change total oilseeds production.
Total oils production in 2017/2018 is forecast to decrease slightly to 4.15 MMT down 3 percent from 4.3 MMT in 2016/17. Total meal exports in 2017/2018 will remain close to 4.6 MMT, down only 11 TMT from 2016/17. Total oils exports in 2017/18 are projected at 3.15 MMT, down by 4 percent from 3.3 MMT in 2016/17. — Market Guru