Soybean and Oilseed Meal Import Prospects Higher as Severe Weather Damages EU Crops

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1 Million Tons Million Tons Million Tons United States Department of Agriculture Foreign Agricultural Service August 2018 Soybean and Oilseed Meal Import Prospects Higher as Severe Weather Damages EU Crops 20 EU-28 Major Oilseed 16 EU Soybean Import / / / /18 forecast Soybean Soybean Meal Rapeseed and Sunflower Meal 0 Brazil United States ROW The oilseeds production forecast for the European Union has been reduced significantly since USDA s first projections published in May. Although prospects for sunflowerseed have improved, lower rapeseed yields are dragging production below last year i. Additionally, EU wheat and coarse grains crop projections are cut again this month resulting in expected lower feed grains consumption. Reductions in rapeseed and coarse grain supplies can be offset with higher rapeseed and corn imports; reduced availability of feed-quality wheat may be partially offset with imported soybeans and oilseeds meals. For that reason, soybean and soybean meal import projections are boosted to 15.8 and 18.5 million tons, respectively. Additionally, rapeseed and sunflowerseed meal import forecasts are adjusted higher following improved production prospects for both crops in Ukraine U.S. Soybean Accumulated Exports to the EU Week 2013/ / / / /18 Meanwhile, the 2017/18 EU soybean import forecast remains unchanged at 14.1 million tons. Lower U.S. soybean prices vis-à-vis Brazil, a result of China s duties imposed on U.S.-origin soybeans, have contributed to a surge in EU imports from the United States. While China substitutes U.S. soybeans by maximizing purchases from Brazil, the rest of the world is taking advantage of competitively priced U.S. supplies and the improved crush margins that have resulted. The recent shift to Approved by the World Agricultural Outlook Board/USDA

2 U.S. origin is likely to continue as long as crush margins remain attractive. However, it is important to note that the European Union is a mature market with limited capacity to expand. According to industry contacts, oilseeds processors are crushing at or near capacity which limits soybean import growth. *** Special thanks to FAS/Paris, Berlin, The Hague, and Spain for contributions to the article *** China Soybean Consumption Prospects Down Further; 2017/18 Import and Crush Lowered. In line with this year s reduced crush, soybean crush is lowered by 1.5 million tons to 95.0 million. USDA forecasts China oilseed meals consumption at 92.3 million tons (soybean meal-equivalent basis), which represents slowing growth in annual consumption at 3.2 percent. This is below last month s estimate of 3.8 percent. 2017/18 Crush Update: Large pork supplies that are pressuring prices, along with higher soybean import prices that are eroding crush margins, have significantly slowed soybean processing. As a result, USDA further lowers China s 2017/18 soybean crush this month to 91.0 million tons. Lower meal output is partially offset with higher fishmeal and sunflowerseed meal imports. In 2017/18, China is projected to consume 89.5 million tons of oilseed meals (soybean meal-equivalent basis), 4.0 percent above last year. This is below last month s forecast of 4.6 percent annual growth. 2017/18 Import Update: Between October 2017 and July 2018, China imported nearly 77.0 million tons of soybeans, almost replicating last marketing year. Based on available trade-to-date information, USDA is cutting 2017/18 China soybean imports by 1.0 million tons to 96.0 million. Even though, soybean arrivals in recent months have been below expectations, partly in response to port congestion, USDA still expects robust imports in August and September, mostly Brazilian origin. i For more details on the EU production forecast, please go to World Agriculture Production Foreign Agricultural Service/USDA 2 August 2018

3 1/6/ /6/ /6/2017 5/7/ /7/ /7/2017 8/8/ /8/ /8/ /9/ /9/2017 3/10/ /10/ /10/2017 6/11/ /11/ /11/2017 8/12/ /12/2017 1/1/ /1/ /1/2018 2/2/ /2/ /2/2018 8/3/ /3/ /3/ /4/ /4/2018 3/5/ /5/ /5/2018 6/6/ /6/ /6/ /7/ /7/2018 1/8/2018 FOB ($/MT) OVERVIEW Global oilseed production is forecast higher this month at nearly million tons. Soybean production is up at million tons on gains in the United States. The rapeseed crop forecast is lower this month as reductions for the European Union exceed gains for Russia and Ukraine. The sunflowerseed production forecast is significantly higher this month on gains for Ukraine, Russia, the European Union, Moldova, Serbia, and Turkey. Global soybean imports are raised, driven by projected gains for the European Union. Soybean exports are up with projected increases for the United States and Serbia. The global stocks forecast is significantly higher this month on larger supplies in the United States, Argentina, and China that more than offset reductions for Brazil. The U.S. season-average farm price for soybeans is projected down $0.35 at $8.90 per bushel. 2017/18 Global oilseed production is slightly lower this month at million tons following reduced palm kernel crop estimates for Malaysia. Global soybean imports are down this month on lower shipments to China. Exports are higher with gains for the United States and Brazil. Global soybean ending stocks are down this month on reductions for the United States and Brazil offsetting gains in Argentina. The U.S. season average farm price for soybeans is unchanged at $9.35 per bushel. SOYBEAN AND SOYBEAN MEAL EXPORT PRICES U.S. soybean export bids in July, FOB Gulf, averaged $335/ton, down $29 from June. In comparison, FOB Brazil Paranagua averaged $393/ton, up $7 from last month. FOB Argentina Up River averaged $380/ton, down $2 from last month. Prices in the United States continued to fall at the beginning of July in anticipation of a 25-percent tariff duty on U.S. soybeans to China and uncertainty regarding its impact on trade. U.S. soybean FOB prices reached a minimum on July 13 and have since risen, supported by year-over-year increases in exports and domestic crush. Soybean Export Prices Argentina (Up River) Brazil (Paranagua) U.S. (Gulf) Foreign Agricultural Service/USDA 3 August 2018

4 Million Tons Million Tons 1/6/ /6/ /6/2017 5/7/ /7/ /7/2017 8/8/ /8/ /8/ /9/ /9/2017 3/10/ /10/ /10/2017 6/11/ /11/ /11/2017 8/12/ /12/2017 1/1/ /1/ /1/2018 2/2/ /2/ /2/2018 8/3/ /3/ /3/ /4/ /4/2018 3/5/ /5/ /5/2018 6/6/ /6/ /6/ /7/ /7/2018 1/8/2018 FOB ($/MT) U.S. soybean meal export bids in July, FOB Gulf, averaged $390/ton, down $17 from June. FOB Brazil Paranagua averaged $376/ton, down $14 from last month. FOB Argentina Up River averaged $376/ton, down $9. Soybean Meal Export Prices Argentina (Up River) Brazil 48% (Paranagua) US 48% (Gulf) EXPORT SALES For the week ending August 2, U.S. 2017/18 soybean export commitments (outstanding sales plus accumulated exports) to China totaled 27.9 million tons compared to 36.3 million a year ago. Total commitments to the world are 58.6 million tons, compared to 60.7 million for the same period last year. Old Crop Outstanding Sales, As of August 2 New Crop Outstanding Sales, As of August / / / / / / / / / /18 China Unknown Rest of World China Unknown Rest of World Foreign Agricultural Service/USDA 4 August 2018

5 OUTLOOK CHANGES Country Commodity Attribute Previous Current Change Reason United States Oilseed, Soybean Exports 55,520 56, Meal, Soybean Exports 11,884 12, Greater soybean crop prospects and competitive export prices Argentina Oil, Soybean Exports 5,325 5, Expectations of slower crush and production until 2019 harvest Canada Meal, Rapeseed Exports 4,850 4, Strong domestic demand limits export availability Meal, Fish 1,000 1, Higher protein demand with reduced soybean crush China Oil, Rapeseed 900 1, Stronger oil demand with reduced soybean crush Oil, Sunflowerseed Increased oil demand with reduced soybean crush Meal, Soybean 18,300 18, European Union Meal, Sunflowerseed 3,500 3, Oil, Sunflowerseed 1,500 1, Lower domestic rapeseed crush and higher sunflowerseed oil exportable supplies for Ukraine Oilseed, Rapeseed 4,200 4, Lower domestic rapeseed crop projections and greater exportable supplies for Ukraine Oilseed, Soybean 15,300 15, Lower domestic crop projections for feed grains India Oil, Soybean 3,600 3, Tighter available supplies from Argentina Oil, Sunflowerseed 1,800 2, Offsetting lower soybean oil imports Malaysia Oil, Palm Exports 17,700 17, Maintaining year-over-year growth Meal, Rapeseed Exports Russia Meal, Sunflowerseed Exports 1,100 1, Greater oilseed production prospects and crush Oil, Sunflowerseed Exports 2,000 2, Serbia Oilseed, Soybean Exports Greater soybean crop prospects Turkey Oilseed, Sunflowerseed Greater domestic sunflowerseed production Ukraine Meal, Sunflowerseed Exports 4,350 4, Oil, Sunflowerseed Exports 5,150 5, Greater oilseed production prospects and crush Note: All figures are in thousand metric tons. Oilseed, Rapeseed Exports 2,050 2, Foreign Agricultural Service/USDA 5 August 2018

6 2017/18 OUTLOOK CHANGES Country Commodity Attribute Previous Current Change Reason United States Oilseed, Soybean Exports 56,744 57, Meal, Soybean Exports 12,247 12, Stronger pace of trade Meal, Soybean Exports 27,650 26,200-1,450 Continued slow export and crush pace Argentina Oil, Soybean Exports 4,675 3, Slower pace of exports and reduced production Oilseed, Soybean 3,750 3, Stronger import pace Meal, Soybean Exports 15,700 16, Stronger pace of trade Brazil Oil, Soybean Exports 1,425 1, Stronger pace of trade Oilseed, Soybean Exports 74,650 75, Record July exports Canada Meal, Rapeseed Exports 4,800 4, Slowing pace of exports Meal, Fish 1,000 1, Pace of trade China Oil, Rapeseed 900 1, Pace of trade Oilseed, Soybean 97,000 96,000-1,000 Large supplies at port, reduced crush slows imports Egypt Meal, Soybean Larger crush reduces need for meal imports Oil, Palm 10,600 10, Offsetting reduced soy oil imports India Oil, Soybean 3,300 3, Slow pace of imports from Argentina Oil, Sunflowerseed 2,100 2, Offsetting reduced soy oil imports Malaysia Oil, Palm Exports 17,250 17, Increased trade pace Peru Meal, Fish Exports 810 1, Higher catch forecast coupled with strong pace of trade Ukraine Meal, Sunflowerseed Exports 4,650 4, Slower pace of trade Note: All figures are in thousand metric tons. Foreign Agricultural Service/USDA 6 August 2018

7 Questions may be directed to: Bill George (202) Agata Kingsbury (202) To download the tables in the publication, go to the Production, Supply and Distribution Database (PSD Online): ( scroll down to Reports, and click the plus sign [+] next to Oilseeds. The Foreign Agricultural Service (FAS) updates its production, supply and distribution (PSD) database for cotton, oilseeds, and grains at 12:00 p.m. on the day the World Agricultural Supply and Demand Estimates (WASDE) report is released. This circular is released by 12:15 p.m. FAS Reports and Databases: Current World Markets and Trade and World Agricultural Production Reports: Archives World Markets and Trade and World Agricultural Production Reports: Production, Supply and Distribution Database (PSD Online): Global Agricultural Trade System (U.S. Exports and ): Export Sales Report: Global Agricultural Information Network (Agricultural Attaché Reports): Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE): Economic Research Service: National Agricultural Statistics Service: Foreign Agricultural Service/USDA 7 August 2018

8 List of Tables SUMMARY TABLES Table 01 Major Oilseeds: World Supply and Distribution (Commodity View) Table 02 Major Protein Meals: World Supply and Distribution (Commodity View) Table 03 Major Vegetable Oils: World Supply and Distribution (Commodity View) Table 04 Major Oilseeds: World Supply and Distribution (Country View) Table 05 Major Protein Meals: World Supply and Distribution (Country View) Table 06 Major Vegetable Oils: World Supply and Distribution (Country View) COMMODITY TABLES Table 07 Soybeans: World Supply and Distribution Table 08 Soybean Meal: World Supply and Distribution Table 09 Soybean Oil: World Supply and Distribution Table 10 Soybeans and Products: World Trade Table 11 Palm Oil: World Supply and Distribution Table 12 Rapeseed and Products: World Supply and Distribution Table 13 Sunflowerseed and Products: World Supply and Distribution Table 14 Minor Vegetable Oils: World Supply and Distribution HISTORICAL TABLES Table 15 World Oilseeds and Products Supply and Distribution Table 16 World Soybeans and Products Supply and Distribution Table 17 World Rapeseed and Products Supply and Distribution Table 18 World Sunflowerseed and Products Supply and Distribution Table 19 World Palm Oil, Coconut Oil, and Fish Meal Supply and Distribution COUNTRY TABLES Table 20 United States Oilseeds and Products Supply and Distribution Local Marketing Years Table 21 United States Soybeans and Products Supply and Distribution Local Marketing Years Table 22 Brazil Soybeans and Products Supply and Distribution Local Marketing Years Table 23 Argentina Soybeans and Products Supply and Distribution Local Marketing Years Table 24 South East Asia Oilseeds and Products Supply and Distribution Table 25 Middle East Oilseeds and Products Supply and Distribution Table 26 European Union Oilseeds and Products Supply and Distribution Table 27 China Oilseeds and Products Supply and Distribution Table 28 India Oilseeds and Products Supply and Distribution PRICES Table 29 Table 30 Table 31 Oilseed Prices Protein Meal Prices Vegetable Oil Prices Foreign Agricultural Service/USDA 8 August 2018

9 Table 01: Major Oilseeds: World Supply and Distribution (Commodity View) Million Metric Tons 2014/ / / /18 Jul Aug Production Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Exports Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Crush Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Ending Stocks Oilseed, Copra Oilseed, Cottonseed Oilseed, Palm Kernel Oilseed, Peanut Oilseed, Rapeseed Oilseed, Soybean Oilseed, Sunflowerseed Total Totals may not add due to rounding Foreign Agricultural Service/USDA 9 August 2018

10 Table 02: Major Protein Meals: World Supply and Distribution (Commodity View) Million Metric Tons 2014/ / / /18 Jul Aug Production Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Exports Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Ending Stocks Meal, Copra Meal, Cottonseed Meal, Fish Meal, Palm Kernel Meal, Peanut Meal, Rapeseed Meal, Soybean Meal, Sunflowerseed Total Totals may not add due to rounding Foreign Agricultural Service/USDA 10 August 2018

11 Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View) Million Metric Tons 2014/ / / /18 Jul Aug Production Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Exports Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Ending Stocks Oil, Coconut Oil, Cottonseed Oil, Olive Oil, Palm Oil, Palm Kernel Oil, Peanut Oil, Rapeseed Oil, Soybean Oil, Sunflowerseed Total Totals may not add due to rounding Foreign Agricultural Service/USDA 11 August 2018

12 Table 04: Major Oilseeds: World Supply and Distribution (Country View) Million Metric Tons 2014/ / / /18 Jul Aug Production United States Brazil Argentina China India Other Total China European Union Mexico Japan Pakistan Thailand Indonesia Egypt Turkey Russia Other Total Exports Brazil United States Canada Argentina Paraguay Ukraine Uruguay Other Crush Total China United States European Union Argentina Brazil India Russia Ukraine Indonesia Canada Mexico Pakistan Malaysia Turkey Japan Other Total Ending Stocks Argentina Brazil United States China Canada Other Total Major Oilseeds includes Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybeans and Sunflowerseeds. Foreign Agricultural Service/USDA 12 August 2018

13 Table 05: Major Protein Meals: World Supply and Distribution (Country View) Million Metric Tons 2014/ / / /18 Jul Aug Production China United States Argentina Brazil European Union Other Total European Union Vietnam Indonesia United States Thailand Korea, South Japan Other Total Exports Argentina Brazil United States Ukraine Canada Indonesia Paraguay Other Total China European Union United States Brazil India Russia Mexico Vietnam Japan Thailand Other SME Total China European Union United States Brazil India Mexico Vietnam Other Total Ending Stocks Brazil Argentina Indonesia European Union India Other Total Major Protein Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal. Foreign Agricultural Service/USDA 13 August 2018

14 Table 06: Major Vegetable Oils: World Supply and Distribution (Country View) Million Metric Tons 2014/ / / /18 Jul Aug Production Indonesia China Malaysia European Union United States Argentina Brazil Other Total India European Union China United States Pakistan Bangladesh Egypt Philippines Turkey Iran Other Total Exports Indonesia Malaysia Argentina Ukraine Canada Russia European Union Other Total China European Union India United States Indonesia Brazil Malaysia Pakistan Argentina Russia Thailand Mexico Bangladesh Egypt Japan Other Total Ending Stocks Indonesia Malaysia China European Union India Other Total Major Vegetable Oils includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed oil. Foreign Agricultural Service/USDA 14 August 2018

15 Table 07: Soybeans: World Supply and Distribution Thousand Metric Tons 2014/ / / /18 Jul Aug Production United States 106, , , , , ,808 Brazil 97,200 96, , , , ,500 Argentina 61,450 58,800 55,000 37,000 57,000 57,000 China 12,154 11,785 12,900 14,200 14,500 14,500 India 8,711 6,929 10,992 8,350 10,800 10,800 Paraguay 8,154 9,217 10,200 10,000 9,800 9,800 Canada 6,045 6,456 6,597 8,000 7,300 7,300 Other 19,365 19,033 20,906 20,135 22,292 22,396 Total 319, , , , , ,104 China 78,350 83,230 93,495 96,000 95,000 95,000 European Union 13,914 15,120 13,422 14,100 15,300 15,800 Mexico 3,819 4,126 4,126 4,600 4,750 4,750 Japan 3,004 3,186 3,175 3,250 3,300 3,300 Thailand 2,411 2,798 3,077 3,150 3,250 3,250 Egypt 1,947 1,300 2,115 3,050 3,150 3,150 Indonesia 2,006 2,274 2,649 2,700 2,900 2,900 Turkey 2,197 2,283 2,271 2,600 2,600 2,600 Taiwan 2,520 2,476 2,566 2,550 2,580 2,580 Iran 1,311 1,864 1,904 2,300 2,450 2,450 Other 12,883 14,681 15,523 19,177 19,079 19,049 Total 124, , , , , ,829 Exports Brazil 50,612 54,383 63,137 75,500 75,000 75,000 United States 50,136 52,870 58,960 57,425 55,520 56,064 Argentina 10,575 9,922 7,026 3,100 8,000 8,000 Paraguay 4,576 5,400 6,129 6,250 5,900 5,900 Canada 3,763 4,236 4,591 5,500 5,500 5,500 Other 6,548 5,705 7,502 5,928 7,399 7,499 Crush Total 126, , , , , ,963 China 74,500 81,500 88,000 91,000 96,500 95,000 United States 50,975 51,335 51,742 55,520 55,656 56,064 Argentina 40,235 43,267 43,303 37,770 43,000 43,000 Brazil 40,435 39,747 40,411 43,000 42,700 42,700 European Union 14,450 14,950 14,400 14,900 15,800 16,300 India 7,700 5,500 9,000 7,600 9,000 9,000 Mexico 4,175 4,400 4,600 5,000 5,200 5,200 Russia 3,600 4,000 4,400 4,650 5,100 5,100 Paraguay 3,700 3,800 3,750 3,700 3,950 3,950 Egypt 1,950 1,150 2,200 3,050 3,100 3,100 Iran 1,450 1,950 2,050 2,450 2,600 2,600 Bolivia 2,450 2,550 2,050 2,550 2,350 2,350 Japan 2,150 2,283 2,392 2,350 2,350 2,350 Pakistan 500 1,250 1,680 2,050 2,300 2,300 Taiwan 1,980 1,980 2,045 2,080 2,100 2,100 Other 14,560 15,362 15,323 16,691 17,604 17,554 Total 264, , , , , ,668 Ending Stocks Argentina 31,750 33,650 35,470 30,800 32,650 34,100 Brazil 19,078 18,558 26,462 24,150 24,650 23,800 United States 5,188 5,354 8,208 11,691 15,773 21,352 China 17,009 16,910 20,391 23,481 19,191 20,781 European Union 843 1,559 1,131 1,073 1,373 1,398 Other 4,096 4,414 5,003 4,415 4,629 4,508 Total 77,964 80,445 96,665 95,610 98, ,939 Most countries are on an October/September Marketing Year (MY). The United States, Mexico, and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay is on a Jan/Dec MY. Foreign Agricultural Service/USDA 15 August 2018

16 Table 08: Soybean Meal: World Supply and Distribution Thousand Metric Tons 2014/ / / /18 Jul Aug Production China 59,004 64,548 69,696 72,072 76,428 75,240 United States 40,880 40,525 40,630 43,998 43,953 44,180 Brazil 31,300 30,750 31,280 33,300 33,100 33,100 Argentina 30,928 33,211 33,280 28,550 33,050 33,050 European Union 11,416 11,811 11,376 11,771 12,482 12,877 India 6,160 4,400 7,200 6,080 7,200 7,200 Mexico 3,300 3,480 3,635 3,950 4,108 4,108 Other 25,534 27,136 28,418 31,417 32,992 32,953 Total 208, , , , , ,708 European Union 19,623 19,207 18,924 18,500 18,300 18,500 Vietnam 4,311 5,094 4,945 4,800 5,000 5,000 Indonesia 3,902 4,203 4,255 4,400 4,600 4,600 Thailand 3,068 2,433 2,782 2,850 2,870 2,870 Philippines 2,204 2,618 2,660 2,750 2,850 2,850 Mexico 1,795 2,367 1,991 2,000 2,070 2,070 Korea, South 1,751 2,118 1,764 1,800 1,850 1,850 Japan 1,699 1,721 1,621 1,650 1,650 1,650 Colombia 1,148 1,206 1,284 1,425 1,500 1,500 Malaysia 1,465 1,291 1,427 1,525 1,500 1,500 Other 19,719 19,600 18,887 18,551 20,031 20,071 Total 60,685 61,858 60,540 60,251 62,221 62,461 Exports Argentina 28,575 30,333 31,323 26,200 29,800 29,800 Brazil 14,290 15,407 13,762 16,350 15,000 15,000 United States 11,891 10,844 10,505 12,791 11,884 12,111 Paraguay 2,569 2,552 2,407 2,430 2,580 2,580 Bolivia 1,674 1,726 1,264 1,690 1,550 1,550 Other 5,405 4,639 5,215 4,496 4,339 4,389 Total 64,404 65,501 64,476 63,957 65,153 65,430 China 57,467 62,663 68,646 71,302 75,558 74,370 United States 29,282 30,044 30,318 31,661 32,387 32,387 European Union 30,142 30,742 30,342 30,042 30,542 31,142 Brazil 15,700 16,470 16,943 17,500 18,150 18,130 Vietnam 4,750 5,470 5,740 5,990 6,170 6,170 Mexico 5,050 5,700 5,770 5,930 6,150 6,150 India 4,500 4,460 4,857 5,050 5,625 5,625 Indonesia 4,000 4,200 4,264 4,450 4,600 4,600 Thailand 4,100 4,230 4,232 4,300 4,400 4,400 Russia 2,700 3,100 3,250 3,600 4,030 4,000 Japan 3,365 3,458 3,420 3,463 3,420 3,420 Egypt 2,650 2,850 2,980 3,125 3,400 3,400 Iran 3,000 3,080 3,180 3,280 3,380 3,380 Argentina 2,402 2,672 2,853 3,000 3,200 3,200 Philippines 2,400 2,600 2,720 2,850 2,950 2,950 Other 30,053 31,350 32,525 34,073 36,362 36,367 Total 201, , , , , ,691 Ending Stocks Brazil 3,812 2,710 3,320 2,800 3,930 2,800 Argentina 4,025 4,231 3,335 2,685 2,835 2,735 United States India Vietnam Other 5,192 5,358 4,770 4,290 4,245 4,164 Total 14,088 13,217 12,756 10,572 11,931 10,620 Most countries are on an October/September Marketing Year (MY). The Mexico and Thailand are on a September/August MY. Canada is on an August/July MY. Paraguay, Vietnam and the Philippines are on a January/December MY and Bolivia is on a March/February MY. Foreign Agricultural Service/USDA 16 August 2018

17 Table 09: Soybean Oil: World Supply and Distribution Thousand Metric Tons 2014/ / / /18 Jul Aug Production China 13,347 14,605 15,770 16,307 17,293 17,024 United States 9,706 9,956 10,035 10,657 10,714 10,793 Argentina 7,687 8,433 8,395 7,340 8,360 8,360 Brazil 7,759 7,627 7,755 8,250 8,195 8,195 European Union 2,746 2,841 2,736 2,831 3,002 3,097 India 1, ,620 1,368 1,620 1,620 Mexico Other 5,925 6,292 6,563 7,233 7,570 7,561 Total 49,301 51,529 53,694 54,878 57,684 57,580 India 2,815 4,269 3,534 3,100 3,600 3,400 Bangladesh Algeria China Morocco Peru Colombia Egypt Korea, South Iran Other 3,018 2,970 2,991 2,780 2,830 2,830 Total 10,034 11,638 10,840 9,855 10,865 10,665 Exports Argentina 5,094 5,698 5,387 3,850 5,325 5,100 Brazil 1,510 1,550 1,241 1,525 1,275 1,275 United States 914 1,017 1,159 1, European Union 1, Paraguay Russia Bolivia Other 1,073 1,005 1,191 1,084 1,143 1,113 Total 11,115 11,769 11,254 10,015 11,326 11,086 China 14,200 15,350 16,350 16,725 17,830 17,600 United States 8,600 9,145 9,010 9,480 9,888 9,979 Brazil 6,215 6,290 6,580 6,895 7,020 6,980 India 4,100 5,250 5,200 4,650 5,100 4,900 Argentina 2,401 2,840 2,985 3,405 3,043 3,418 European Union 2,040 2,285 2,205 2,225 2,255 2,255 Mexico 961 1,020 1,050 1,080 1,160 1,160 Bangladesh , ,000 1,000 Egypt Algeria Iran Pakistan Morocco Korea, South Colombia Other 4,976 5,030 5,148 5,348 5,590 5,590 Total 47,725 52,095 53,393 54,873 57,151 57,147 Ending Stocks United States , China India European Union Argentina Other 1,710 1,477 1,379 1,191 1,219 1,203 Total 4,363 3,666 3,553 3,398 3,511 3,410 Most countries are on an October/September Marketing Year (MY). Mexico is on a September/August MY. Paraguay and Peru are on an January/December MY and Bolivia is on a March/February MY. Foreign Agricultural Service/USDA 17 August 2018

18 Table 10: Soybeans and Products: World Trade Thousand Metric Tons Meal, Soybean Oil, Soybean Oilseed, Soybean Marketing Year 2016/ / / / / /18 Exports North America 10,810 13,105 12,426 1,358 1,275 1,152 63,551 62,925 61,564 Canada (Aug-Jul) ,591 5,500 5,500 United States (Oct-Sep) 10,505 12,791 12,111 1,159 1, ,960 57,425 56,064 South America 48,766 46,681 48,950 7,555 6,437 7,437 79,527 86,527 91,853 Argentina (Oct-Sep) 31,323 26,200 29,800 5,387 3,850 5,100 7,026 3,100 8,000 Brazil (Oct-Sep) 13,762 16,350 15,000 1,241 1,525 1,275 63,137 75,500 75,000 Paraguay (Jan-Dec) 2,407 2,430 2, ,129 6,250 5,900 South Asia 2,021 1,407 1, India (Oct-Sep) 2,008 1,400 1, Other 2,879 2,764 2,646 2,340 2,301 2,492 3,998 4,001 4,246 World Total 64,476 63,957 65,430 11,254 10,015 11, , , ,963 European Union (Oct-Sep) 18,924 18,500 18, ,422 14,100 15,800 East Asia 3,502 3,648 3,607 1, , , , ,282 China (Oct-Sep) ,495 96,000 95,000 Japan (Oct-Sep) 1,621 1,650 1, ,175 3,250 3,300 Korea, South (Oct-Sep) 1,764 1,800 1, ,286 1,330 1,400 Taiwan (Oct-Sep) ,566 2,550 2,580 Southeast Asia 16,095 16,351 16, ,409 8,770 9,431 Indonesia (Oct-Sep) 4,255 4,400 4, ,649 2,700 2,900 Malaysia (Oct-Sep) 1,427 1,525 1, Philippines (Jan-Dec) 2,660 2,750 2, Thailand (Sep-Aug) 2,782 2,850 2, ,077 3,150 3,250 Vietnam (Jan-Dec) 4,945 4,800 5, ,646 1,850 2,150 North America 3,129 3,354 3, ,218 5,679 6,010 Canada (Aug-Jul) Mexico (Sep-Aug) 1,991 2,000 2, ,126 4,600 4,750 South America 4,878 5,160 5,451 1,251 1,189 1,279 3,053 5,235 3,825 Brazil (Oct-Sep) Colombia (Oct-Sep) 1,284 1,425 1, Central America 1,165 1,218 1, Caribbean 1,007 1,052 1, Middle East 4,950 4,200 4, ,222 6,065 6,270 Iran (Oct-Sep) 1,507 1,250 1, ,904 2,300 2,450 Israel (Oct-Sep) Syria (Jan-Dec) Turkey (Oct-Sep) ,271 2,600 2,600 North Africa 3,135 2,850 3,185 1,560 1,595 1,705 2,653 3,770 3,955 Egypt (Oct-Sep) 1, ,115 3,050 3,150 Other 3,755 3,918 4,233 5,037 4,506 4,783 5,333 6,224 6,730 World Total 60,540 60,251 62,461 10,840 9,855 10, , , ,829 Foreign Agricultural Service/USDA 18 August 2018

19 Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2014/ / / /18 Jul Aug Production Indonesia 33,000 32,000 36,000 38,500 40,500 40,500 Malaysia 19,879 17,700 18,858 20,000 21,000 21,000 Thailand 2,068 1,804 2,500 2,700 2,900 2,900 Colombia 1,110 1,275 1,147 1,628 1,530 1,530 Nigeria Other 4,783 5,141 5,780 5,801 5,859 5,859 Total 61,750 58,890 65,255 69,599 72,759 72,759 India 9,139 8,860 9,341 10,700 11,600 11,600 European Union 6,935 6,636 7,224 6,500 6,500 6,500 China 5,696 4,689 4,881 5,050 5,250 5,250 Pakistan 2,826 2,720 3,075 3,100 3,250 3,250 Bangladesh 1,280 1,511 1,314 1,500 1,650 1,650 United States 1,143 1,307 1,367 1,680 1,600 1,600 Egypt 1,489 1,038 1,323 1,250 1,300 1,300 Philippines ,165 1,100 1,200 1,200 Russia Vietnam Other 13,602 13,008 14,152 14,817 15,388 15,388 Total 44,471 42,370 45,483 47,467 49,528 49,528 Exports Indonesia 25,964 22,906 27,633 28,000 29,500 29,500 Malaysia 17,378 16,621 16,301 17,450 17,700 17,900 Guatemala Colombia Papua New Guinea Other 2,671 2,606 3,090 3,053 3,185 3,185 Total 47,389 43,742 48,907 50,548 52,437 52,637 India 9,150 9,100 9,550 10,900 11,820 11,820 Indonesia 7,520 8,870 9,070 9,450 10,130 10,130 European Union 6,900 6,600 6,800 6,550 6,450 6,450 China 5,700 4,800 4,830 4,900 5,250 5,250 Malaysia 2,941 2,990 2,685 3,117 3,425 3,425 Pakistan 2,738 2,795 2,995 3,145 3,245 3,245 Thailand 1,925 1,835 2,172 2,440 2,590 2,590 Bangladesh 1,275 1,411 1,314 1,470 1,625 1,625 United States 1,092 1,269 1,355 1,662 1,580 1,580 Philippines ,225 1,250 1,320 1,320 Egypt 1,350 1,100 1,300 1,280 1,300 1,300 Nigeria 1,410 1,320 1,240 1,260 1,290 1,290 Colombia ,018 1,028 1,028 Russia Vietnam Other 12,967 13,334 14,372 15,176 15,856 15,856 Total 58,206 58,899 61,516 65,345 68,666 68,666 Ending Stocks Indonesia 2,734 2,958 2,260 3,310 4,180 4,180 Malaysia 2,641 1,546 2,016 2,199 3,474 2,574 India Thailand European Union Other 3,532 3,216 3,452 3,557 3,381 3,381 Total 10,237 8,856 9,171 10,344 12,228 11,328 Foreign Agricultural Service/USDA 19 August 2018

20 Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2016/ / / / / /18 Production China (Oct-Sep) 10,771 11,128 11,307 7,059 7,293 7,410 14,546 14,400 14,200 India (Oct-Sep) 3,460 3,050 3,250 2,200 1,950 2,070 7,091 5,850 6,500 Canada (Aug-Jul) 5,200 5,220 5,285 4,020 4,040 4,110 19,599 21,500 21,100 Japan (Oct-Sep) 1,355 1,360 1,390 1,061 1,075 1, European Union (Jul-Jun) 13,908 13,851 13,281 10,199 10,157 9,739 20,538 22,145 19,200 Other 5,206 5,513 5,825 3,667 3,885 4,095 9,547 10,814 11,145 World Total 39,900 40,122 40,338 28,206 28,400 28,519 71,325 74,713 72,149 China (Oct-Sep) 875 1,250 1, ,000 1,000 4,260 4,650 5,300 India (Oct-Sep) Canada (Aug-Jul) Japan (Oct-Sep) ,392 2,450 2,500 European Union (Jul-Jun) ,224 4,200 4,400 Other 4,762 4,597 4,781 3,046 3,023 3,211 4,688 4,638 4,690 World Total 5,889 6,096 6,106 4,387 4,586 4,741 15,658 16,040 16,990 Exports China (Oct-Sep) India (Oct-Sep) Canada (Aug-Jul) 4,681 4,550 4,750 3,133 3,170 3,200 11,022 11,000 11,600 Japan (Oct-Sep) European Union (Jul-Jun) Other ,025 1,134 1,261 4,458 5,390 5,740 World Total 6,033 5,875 6,126 4,524 4,588 4,735 15,799 16,515 17,470 China (Oct-Sep) 11,634 12,363 12,292 8,700 8,900 8,650 18,700 19,300 19,600 India (Oct-Sep) 2,890 2,800 2,800 2,480 2,405 2,430 6,850 6,070 6,500 Canada (Aug-Jul) ,339 9,304 9,446 Japan (Oct-Sep) 1,377 1,372 1,400 1,078 1,081 1,102 2,442 2,455 2,505 European Union (Jul-Jun) 13,850 13,700 13,250 10,150 10,050 9,700 25,350 25,280 24,290 Other 9,562 9,642 10,001 5,729 5,752 6,052 9,424 10,016 10,387 World Total 39,852 40,491 40,358 29,093 29,153 28,919 72,105 72,425 72,728 Ending Stocks China (Oct-Sep) ,676 2,049 1,789 1,346 1, India (Oct-Sep) Canada (Aug-Jul) ,348 2,646 2,800 Japan (Oct-Sep) European Union (Jul-Jun) ,918 1,098 Other ,249 1,295 1,003 World Total ,328 3,573 3,179 5,652 7,465 6,406 Foreign Agricultural Service/USDA 20 August 2018

21 Table 13: Sunflowerseed and Products: World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2016/ / / / / /18 Production Argentina (Mar-Feb) 3,550 3,500 3,500 1,270 1,452 1,452 1,288 1,465 1,465 Russia (Sep-Aug) 10,858 10,362 11,000 4,146 4,105 4,269 4,171 4,130 4,295 Turkey (Sep-Aug) 1,320 1,550 1, ,100 1, Ukraine (Sep-Aug) 15,200 13,700 15,000 6,030 5,658 5,989 6,351 5,891 6,235 European Union (Oct-Sep) 8,598 9,679 9,700 4,266 4,644 4,698 3,338 3,634 3,676 Other 8,442 8,521 8,939 2,654 2,830 2,978 2,256 2,393 2,521 World Total 47,968 47,312 49,879 19,329 19,789 20,514 18,165 18,403 19,104 Argentina (Mar-Feb) Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) ,708 3,800 3,800 1,834 1,500 1,650 Other ,269 2,517 2,168 6,267 6,095 6,081 World Total 2,176 2,224 1,990 6,947 7,299 6,918 8,912 8,142 8,253 Exports Argentina (Mar-Feb) Russia (Sep-Aug) ,300 1,300 1,200 2,178 2,200 2,100 Turkey (Sep-Aug) Ukraine (Sep-Aug) ,807 4,550 4,600 5,851 5,250 5,500 European Union (Oct-Sep) Other 1,406 1,547 1, World Total 2,440 2,412 2,261 7,436 7,345 7,214 10,402 9,592 9,692 Argentina (Mar-Feb) 3,130 3,560 3, Russia (Sep-Aug) 10,580 10,460 10,860 2,850 2,950 3,150 2,055 2,070 2,145 Turkey (Sep-Aug) 1,862 2,122 2,182 1,850 2,050 2, ,020 1,030 Ukraine (Sep-Aug) 14,780 13,890 14,700 1,300 1,270 1, European Union (Oct-Sep) 8,990 9,695 9,800 7,860 8,160 8,210 4,560 4,540 4,815 Other 7,645 7,936 8,361 4,701 5,080 4,897 7,743 8,069 8,208 World Total 46,987 47,663 49,459 19,101 20,110 20,302 16,645 17,026 17,555 Ending Stocks Argentina (Mar-Feb) 1,241 1, Russia (Sep-Aug) Turkey (Sep-Aug) Ukraine (Sep-Aug) European Union (Oct-Sep) Other World Total 3,371 2,832 2,981 1,433 1, ,706 1,633 1,743 Foreign Agricultural Service/USDA 21 August 2018

22 Table 14: Minor Vegetable Oils: World Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2016/ / / / / /18 Production China (Oct-Sep) 2,896 3,008 3,064 1,115 1,382 1, India (Oct-Sep) 1,238 1,188 1,200 1,160 1,320 1,320 Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,745 2,200 2,240 Other 1,659 1,675 1,673 1,671 1,922 1, World Total 5,942 5,997 6,081 4,414 5,152 5,226 2,482 3,268 3,147 China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total Exports China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total , China (Oct-Sep) 2,999 3,110 3,166 1,113 1,377 1, India (Oct-Sep) 1,165 1,198 1,210 1,165 1,295 1,335 Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) ,370 1,570 1,720 Other 1,439 1,453 1,461 1,687 1,908 2, World Total 5,829 5,979 6,067 4,384 5,060 5,204 2,585 2,855 3,045 Ending Stocks China (Oct-Sep) India (Oct-Sep) Turkey (Nov-Oct) United States (Aug-Jul) European Union (Oct-Sep) Other World Total Foreign Agricultural Service/USDA 22 August 2018

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