There is almost no risk that the United States will exceed WTO limits on agricultural subsidies with the 2014 farm law, but the picture could be far different if Doha Round proposals are adopted, according to three senior economists.
The first edition of the revived Fats and Oils: Oilseed Crushings, Production, Consumption and Stocks report was delayed for two months, until Oct. 1, because of inadequate response by processors, said the USDA.
The FDA order to foodmakers to phase out artificial trans fats "will create opportunities for Canada's canola sector, especially high oleic varieties," says Commodity News Service Canada.
Canadian farmers are planting more wheat, corn, barley and oats than last year while cutting back on soybeans and canola, said Statistics Canada, based on a survey of 24,500 farmers from May 28-June 11.
Camelina, an oilseed that is little-known in the Midwest, could be a profit-turning partner with soybeans in the upper Midwest, says a study highlighted by the American Society of Agronomy.
U.S. soybean exports are headed for a record 1.76 billion bushels this marketing year although the world is flooded with the oilseed, said USDA. In its monthly WASDE report on crop output and usage around the world, USDA raised its export forecast by 40 million bushels, to 1.76 billion bushels, citing "the record export pace in weeks and prospects for additional sales and shipments ahead of the South American harvest."
Growers plan "a massive shift into soybeans" and away from corn in 2015, according to an email survey of 1,650 farmers by Farm Futures that concluded a few days ago.
Canadian farmers harvested their sixth record soybean crop in a row and their second-largest canola crop, said Statistics Canada, with the harvest season over. The canola crop was 11 percent larger than the previous StatsCan estimate in October and was 1 million tonnes more than traders expected. Canola is Canada's major oilseed, at 15.6 million tonnes this year, down from 18 million tonnes last year. Soybeans totaled 6 million tonnes this year, up 13 percent from 2013.
Strong demand in the opening weeks of the marketing year and lower market prices are forecast to result in record exports of U.S. soybean meal, said USDA. It estimated sales of 12.8 million short tons, up 10 percent from 2013/14.
U.S. growers will harvest a record 2.5 billion pounds of canola this season, thanks to above-average yields and near-record plantings, says USDA in its Oil Crops Outlook report.