Forecast of global harvest of soybeans and sunflower in 2014/15 MY has been downgraded
In its latest report, analysts of Oil World voiced their forecast of global harvest of soybeans for 2014/15 season at 307.76 million tons; that is 3.04 million tons less than previously estimated; yet, this is considerably higher than in the previous MY (284.89 million tons). In particular, the downward adjustment affected Brazil — to 89 (92; 86.12) million tons, Argentina — to 54 (55; 54) million tons and India — to 10.3 (11.7; 12.2) million tons.
As for sunflower harvest forecast, it has also been lowered down to 40.49 (41.37; 42.62) million tons. The downward adjustment affected Ukraine — 10 (10.7; 11.05) million tons and Russia — 9.2 (9.5; 10) million tons; in the meanwhile numbers for the EU countries was revised upward — to 8.74 (8.58; 8.98) million tons.
The experts increased their forecast for global rape harvest for 2014/15 MY by 0.71 million tons — to 68.21 million tons, against 69.95 million tons a year earlier. The forecast has been adjusted upwards for the EU — to 24.02 (23.57; 21.24) million tons, Canada — 14.5 (14.2; 18.2) million tons and Ukraine — 2.32 (2.25; 2.47).
