Share of Brazil s Soybean Exports to China Spikes in August

United States Department of Agriculture Foreign Agricultural Service September 2018 Share of Brazil s Soybean Exports to China Spikes in August Monthly Share of Brazil's Soybean Exports to China 85% 75% 79% 73% 79% 79% 78% 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 The share of Brazil s exports destined for China rose to 85 percent in August, 7 percentage points above the previous month. This increase is due to a turn to Brazilian sources by China following the implementation of duties on U.S. soybeans. This has resulted in higher prices for Brazilian soybeans that discouraged purchases by importers other than China. This trend seems likely to continue and may strengthen in the coming months. At the current level of export share, Brazil s exports of soybeans to China would reach nearly 60 million tons (year ending January) compared to 54.4 million the previous year, accounting for all of the additional soybeans Brazil harvested in 2018. 37.1 32.6 Soybean from Non-Brazilian Suppliers ROW 44.2 39.1 37.0 36.4 China 42.6 34.5 49.0 30.8 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 Using these projected trade flows and current import forecasts, U.S. trade opportunities for markets outside of China would rise nearly 13 million tons in the coming year compared to 2016/17. In contrast, increased purchases of Brazilian soybeans by China would result in an 8-million-ton decline in potential U.S. and other exporter trade to China for the same period. Any reduction in China s demand in the coming year will likely be absorbed by the United States because of the duties. Conversely, an increase in China s share of Brazil s exports would reduce Brazil s sales to other markets and increase opportunities for the United States to ship to these other markets, offsetting reduced sales to China. Approved by the World Agricultural Outlook Board/USDA

1/9/2017 13/9/2017 25/9/2017 5/10/2017 17/10/2017 27/10/2017 8/11/2017 20/11/2017 30/11/2017 12/12/2017 22/12/2017 3/1/2018 15/1/2018 25/1/2018 6/2/2018 16/02/2018 28/2/2018 12/3/2018 22/3/2018 3/4/2018 13/4/2018 25/4/2018 7/5/2018 17/5/2018 29/5/2018 8/6/2018 20/6/2018 2/7/2018 12/7/2018 24/7/2018 3/8/2018 15/8/2018 27/8/2018 6/9/2018 FOB ($/MT) OVERVIEW FOR Global oilseed production is forecast higher this month at 604.7 million tons. Soybeans are forecast up at 369.3 million tons with gains for the United States and China exceeding losses in Canada, India, and Uruguay. The rapeseed crop estimate is lower this month on reductions for China and the European Union. Peanut production forecast is down this month for China, India, and the United States. Cottonseed is up for China, Brazil, and the United States which more than offsets a reduction for Australia. Global soybean imports are down, driven by weaker demand from China. Soybean exports are down on projected lower exports for Canada and Uruguay. The U.S. season-average farm price for soybeans is projected down $0.30 to $8.60 per bushel. OVERVIEW FOR 2017/18 Global oilseed production is estimated at 573.6 million tons. Larger soybean production for Argentina is offset by cuts in Canada and Uruguay. Global soybean imports are down on lower shipments to China and Thailand more than offsetting gains for Egypt, the European Union, Iran, and Pakistan. Exports are slightly down for Argentina, Canada, and Uruguay which exceed gains for Brazil and the United States. 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 August, FOB Gulf, averaged $336/ton, up $1 from July. In comparison, Brazil FOB Paranagua averaged $394/ton, up $2 from last month. Argentina FOB Up River averaged $384/ton, up $4 from last month. In the first half of August, prices in the United States saw some upward mobility supported by higher year-over-year exports and crush. However, in the second half of August, prices came under pressure as private crop estimates pointed to a bumper soybean harvest. Soybean Export Prices 450 440 430 420 410 400 390 380 370 360 350 340 330 320 310 300 Argentina (Up River) Brazil (Paranagua) U.S. (Gulf) U.S. soybean meal export bids in August, FOB Gulf, averaged $385/ton, down $4 from July. In comparison, Brazil FOB Paranagua averaged $361/ton, down $16/ton from last month. Argentina Foreign Agricultural Service/USDA 2 September 2018

1/9/2017 12/9/2017 21/09/2017 2/10/2017 11/10/2017 20/10/2017 31/10/2017 9/11/2017 20/11/2017 29/11/2017 8/12/2017 19/12/2017 28/12/2017 8/1/2018 17/01/2018 26/01/2018 6/2/2018 15/02/2018 26/02/2018 7/3/2018 16/03/2018 27/03/2018 5/4/2018 16/04/2018 25/04/2018 4/5/2018 15/05/2018 24/05/2018 4/6/2018 13/06/2018 22/06/2018 3/7/2018 12/7/2018 23/07/2018 1/8/2018 10/8/2018 21/08/2018 30/08/2018 US$/ton 1/6/2017 15/6/2017 29/6/2017 13/7/2017 27/7/2017 10/8/2017 24/8/2017 7/9/2017 21/9/2017 5/10/2017 19/10/2017 2/11/2017 16/11/2017 30/11/2017 14/12/2017 28/12/2017 11/1/2018 25/1/2018 8/2/2018 22/2/2018 8/3/2018 22/3/2018 5/4/2018 19/4/2018 3/5/2018 17/5/2018 31/5/2018 14/6/2018 28/6/2018 12/7/2018 26/7/2018 FOB ($/MT) FOB Up River averaged $354/ton, down $22. Many countries, except China, raised their soybean imports and crush above expectations to offset shortfalls in Argentina s soybean meal exports. Price declines in the United States were not as significant as in Brazil and Argentina, primarily due to strong exports and domestic demand for protein feed. Soybean Meal Export Prices 480 460 440 420 400 380 360 340 320 300 280 Argentina (Up River) Brazil 48% (Paranagua) US 48% (Gulf) SOYBEAN AND PALM OIL EXPORT PRICES Higher year-over-year global production of both soy and palm oil has put downward pressure on prices of both oils. Compared to September 2017, soy oil export prices are down $149 in the United States, $134 in Brazil, and $132 in Argentina. In August 2018, U.S. soy oil export prices have run higher than South American origins with U.S. Gulf averaging $673/ton, Brazil $657/ton, and Argentina $641/ton. India has reduced palm and soybean oil imports on higher tariffs and a falling rupee. In this environment of reduced palm oil demand, the combined effects of higher Indonesian production and resulting stocks, versus moderated Malaysian production, have led to a divergence in Indonesian and Malaysian palm oil export prices. In August, Malaysian palm oil prices ran $21/ton higher than Indonesian palm oil. Soybean Oil and Palm Oil Export Prices 850 800 750 700 650 600 550 500 Argentina (Up River) Soy Oil Brazil (Paranagua) Soy Oil USA (Gulf) Soy Oil Indonesia Palm Oil Malaysia Palm Oil Foreign Agricultural Service/USDA 3 September 2018

Million Tons Million Tons EXPORT SALES For the week ending August 30, U.S. 2017/18 soybean export commitments (outstanding sales plus accumulated exports) to China totaled 27.9 million tons compared to 36.7 million a year ago. Total commitments to the world are 58.9 million tons, compared to 60.5 million for the same period last year. Old Crop Outstanding Sales, As of August 30 New Crop Outstanding Sales, As of August 30 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2013/14 2014/15 2015/16 2016/17 2017/18 24 22 20 18 16 14 12 10 8 6 4 2 0 2013/14 2014/15 2015/16 2016/17 2017/18 China Unknown Rest of World China Unknown Rest of World OUTLOOK CHANGES Country Commodity Attribute Previous Current Change Reason United States Meal, Soybean Export 12,111 12,247 136 Higher crop projection and crush forecast. Canada Oilseed, Soybean Export 5500 5000-500 Lower crop projection Oilseed, Soybean Import 95,000 94,000-1,000 Shrinking soybean exportable supplies in Canada and Uruguay following China Oilseed, Rapeseed Import 5300 5600 300 Increased substitute protein demand with reduced soybean imports and crush Oil, Sunflowerseed Import 800 900 100 Oil, Palm Import 5250 5400 150 Increased oil demand with reduced soybean crush Egypt India Meal, Soybean Import 950 825-125 Larger soybean crush reduces need for meal imports Oilseed, Soybean Import 3,150 3,300 150 Stronger pace of trade at the end of the marketing year Oil, Palm Import 11600 10600-1000 A response to import tariffs and in line with lower 2017/18 imports Foreign Agricultural Service/USDA 4 September 2018

Oil, Sunflowerseed Import 2000 2,100 100 Partially offsetting lower peanut oil production Indonesia Oil, Palm Export 29500 28500-1,000 Slower pace of trade on weak demand growth in India Iran Pakistan Oilseed, Soybean Import 2,450 2600 150 In line with 2017/18 changes; higher soybean imports and crush Meal, Soybean Import 1350 1,250-100 reduce need for meal imports Oilseed, Rapeseed Import 1100 700-400 In line with 2017/18 changes; projected lower shipments from Canada offset by higher soybean imports Oilseed, Soybean Import 2350 2450 100 Thailand Oil, Palm Export 300 450 150 Ukraine Oil, Sunflowerseed Export 5500 5,600 100 In line with 2017/18 changes Uruguay Oilseed, Soybean Export 2920 2420-500 Lower crop projection Note: All figures are in thousand metric tons. 2017/18 OUTLOOK CHANGES Country Commodity Attribute Previous Current Change Reason United States Oilseed, Soybean Export 57,425 57,969 544 Stronger-than-expected pace of trade towards end of the marketing Meal, Soybean Export 12,791 13,063 272 year Argentina Oilseed, Soybean Export 3,100 2,100-1,000 Weak July exports and trade prospects for the rest of the year Brazil Oilseed, Soybean Export 75,500 76,700 1,200 Strong pace of August trade Oilseed, Soybean Export 5,500 4,928-572 Canada Oilseed, Rapeseed Export 11,000 10,789-211 Final government data Meal, Soybean Import 900 1,023 123 China Oilseed, Soybean Import 96,000 94,000-2,000 Reduced crush slows imports at the end of the marketing year Meal, Soybean Export 900 1,000 100 Stronger-than-expected export pace Egypt European Union Meal, Soybean Import 700 600-100 Larger soybean crush reduces need for meal imports Oilseed, Soybean Import 3,050 3,250 200 Stronger pace of trade at the end of the marketing year Oilseed, Soybean Import 14,100 14,500 400 Stronger imports at the end of the marketing year; stocks surge in anticipation of lower rapeseed crop and crush next marketing year Foreign Agricultural Service/USDA 5 September 2018

Oilseed, Rapeseed Meal, Sunflowerseed Import 4,200 4,006-194 Final government data Import 3,800 3,700-100 Slowing trade towards end of the marketing year following larger soybean crush and soybean meal production Oil, Palm Import 10,700 9,500-1,200 Slower pace of imports from Indonesia and Malaysia following new import duties Oil, Soybean Import 3,100 3,000-100 Slow pace of imports from Argentina India Oil, Sunflowerseed Import 2,200 2,400 200 Stronger pace of trade to offset reduced soybean oil imports Meal, Soybean Export 1400 1500 100 Stronger-than-expected pace of trade, primarily to the EU, Vietnam, and the United States Meal, Rapeseed Export 400 550 150 Stronger-than-expected pace of trade to South Korea, Thailand, Vietnam Indonesia Oil, Palm Export 28,000 27,000-1,000 Slower pace of trade on weak demand growth in India Iran Oilseed, Soybean Import 2,300 2,500 200 Stronger pace of trade at the end of the marketing year Meal, Soybean Import 1,250 1,050-200 Larger soybean crush reduces need for meal imports Malaysia Oil, Palm Export 17,450 17,000-450 Slower pace of trade on weak demand growth in India Pakistan Thailand Oilseed, Rapeseed Import 1,000 700-400 Smaller-than-expected rapeseed shipments from Canada offset by larger soybean imports from the United States Oilseed, Soybean Import 2,050 2,300 250 Oilseed, Soybean Import 3150 2450-700 Smaller-than-expected imports to date; larger shipments from the United Stated did not fully offset reductions from Brazil Meal, Soybean Import 2850 3150 300 Stronger-than-expected imports from Brazil and the United States Oil, Palm Export 250 450 200 Stronger than expected exports to India (crude) Ukraine Meal, Sunflowerseed Oil, Sunflowerseed Export 4,550 4,350-200 Slower-than-expected pace of trade Export 5,250 5,350 100 Stronger-than-expected pace of trade Uruguay Oilseed, Soybean Export 1,650 1,250-400 Lower supplies following reduced production Note: All figures are in thousand metric tons. Foreign Agricultural Service/USDA 6 September 2018

Foreign Agricultural Service/USDA 7 September 2018

Questions may be directed to: Bill George (202) 720-6234 Bill.George@fas.usda.gov Agata Kingsbury (202) 260-8910 Agata.Kingsbury@fas.usda.gov Ben Boroughs (202) 378-1062 Ben.Boroughs@fas.usda.gov To download the tables in the publication, go to the Production, Supply and Distribution Database (PSD Online): (http://apps.fas.usda.gov/psdonline/psdhome.aspx), 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: http://apps.fas.usda.gov/psdonline/psddatapublications.aspx Archives World Markets and Trade and World Agricultural Production Reports: http://usda.mannlib.cornell.edu/mannusda/viewtaxonomy.do?taxonomyid=7 Production, Supply and Distribution Database (PSD Online): http://apps.fas.usda.gov/psdonline/psdhome.aspx Global Agricultural Trade System (U.S. Exports and ): http://apps.fas.usda.gov/gats/default.aspx Export Sales Report: http://apps.fas.usda.gov/esrquery/ Global Agricultural Information Network (Agricultural Attaché Reports): http://gain.fas.usda.gov/pages/default.aspx Other USDA Reports: World Agricultural Supply and Demand Estimates (WASDE): http://www.usda.gov/oce/commodity/wasde/ Economic Research Service: http://www.ers.usda.gov/topics/crops National Agricultural Statistics Service: http://www.nass.usda.gov/publications/ Foreign Agricultural Service/USDA 8 September 2018

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 9 September 2018

Table 01: Major Oilseeds: World Supply and Distribution (Commodity View) Million Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production Oilseed, Copra 5.42 5.32 5.51 5.73 5.83 5.83 Oilseed, Cottonseed 44.36 35.78 39.09 45.05 44.37 44.85 Oilseed, Palm Kernel 16.57 15.96 17.36 18.45 19.21 19.21 Oilseed, Peanut 42.13 41.71 44.86 45.56 44.58 43.93 Oilseed, Rapeseed 71.29 69.81 71.33 74.55 72.15 71.70 Oilseed, Soybean 319.96 315.58 348.12 336.82 367.10 369.32 Oilseed, Sunflowerseed 39.19 40.54 47.97 47.46 49.88 49.83 Total 538.91 524.69 574.23 573.63 603.12 604.67 Oilseed, Copra 0.10 0.13 0.11 0.12 0.10 0.10 Oilseed, Cottonseed 0.68 0.68 0.97 0.94 0.88 0.88 Oilseed, Palm Kernel 0.07 0.06 0.06 0.07 0.07 0.07 Oilseed, Peanut 2.52 3.31 3.12 3.19 3.27 3.29 Oilseed, Rapeseed 14.32 14.42 15.66 15.43 16.99 16.91 Oilseed, Soybean 124.36 133.33 144.35 151.86 154.83 154.12 Oilseed, Sunflowerseed 1.56 1.87 2.17 2.13 1.99 2.04 Total 143.60 153.79 166.44 173.74 178.13 177.41 Exports Oilseed, Copra 0.11 0.13 0.14 0.13 0.14 0.14 Oilseed, Cottonseed 0.72 0.71 0.88 0.98 0.96 0.91 Oilseed, Palm Kernel 0.04 0.04 0.08 0.05 0.05 0.05 Oilseed, Peanut 3.33 3.54 3.74 3.68 3.66 3.63 Oilseed, Rapeseed 15.11 14.35 15.80 16.35 17.47 17.46 Oilseed, Soybean 126.21 132.52 147.36 153.62 157.96 156.90 Oilseed, Sunflowerseed 1.66 2.01 2.44 2.50 2.26 2.31 Total 147.17 153.30 170.44 177.30 182.50 181.40 Crush Oilseed, Copra 5.38 5.30 5.45 5.70 5.78 5.78 Oilseed, Cottonseed 33.79 28.37 29.17 34.02 34.38 34.86 Oilseed, Palm Kernel 16.51 15.88 17.22 18.33 19.10 19.10 Oilseed, Peanut 16.81 16.93 18.34 18.62 18.75 18.20 Oilseed, Rapeseed 67.40 67.82 69.05 69.09 69.70 68.72 Oilseed, Soybean 264.73 274.99 287.20 293.69 308.67 308.20 Oilseed, Sunflowerseed 35.64 36.64 43.03 43.72 45.44 45.44 Total 440.26 445.93 469.47 483.16 501.81 500.30 Ending Stocks Oilseed, Copra 0.10 0.08 0.07 0.08 0.07 0.07 Oilseed, Cottonseed 1.66 0.89 1.40 1.85 1.53 1.49 Oilseed, Palm Kernel 0.26 0.24 0.24 0.27 0.28 0.28 Oilseed, Peanut 4.23 3.55 3.55 3.65 2.74 2.76 Oilseed, Rapeseed 7.55 6.65 5.60 6.80 6.41 6.04 Oilseed, Soybean 77.96 80.42 96.68 94.74 105.94 108.26 Oilseed, Sunflowerseed 2.90 2.65 3.37 2.84 2.98 2.93 Total 94.66 94.48 110.91 110.21 119.94 121.83 Totals may not add due to rounding Foreign Agricultural Service/USDA 10 September 2018

Table 02: Major Protein Meals: World Supply and Distribution (Commodity View) Million Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production Meal, Copra 1.80 1.77 1.81 1.92 1.93 1.93 Meal, Cottonseed 15.53 13.07 13.44 15.69 15.84 16.06 Meal, Fish 4.69 4.51 4.89 4.83 4.71 4.71 Meal, Palm Kernel 8.60 8.31 8.94 9.54 9.92 9.92 Meal, Peanut 6.68 6.72 7.31 7.41 7.48 7.24 Meal, Rapeseed 38.98 39.35 39.85 39.86 40.34 39.78 Meal, Soybean 208.46 215.82 225.38 230.91 242.71 242.38 Meal, Sunflowerseed 16.17 16.50 19.33 19.76 20.51 20.52 Total 300.89 306.04 320.95 329.93 343.43 342.53 Meal, Copra 0.67 0.56 0.47 0.52 0.53 0.53 Meal, Cottonseed 0.25 0.21 0.24 0.24 0.23 0.22 Meal, Fish 2.50 2.46 3.06 2.64 2.55 2.55 Meal, Palm Kernel 6.83 6.41 7.58 7.62 7.71 7.71 Meal, Peanut 0.03 0.02 0.13 0.07 0.07 0.07 Meal, Rapeseed 5.99 5.70 5.89 6.14 6.11 6.11 Meal, Soybean 60.69 61.86 60.54 60.34 62.46 62.15 Meal, Sunflowerseed 5.53 5.95 6.95 7.29 6.92 7.04 Total 82.49 83.18 84.85 84.84 86.57 86.38 Exports Meal, Copra 0.73 0.59 0.48 0.59 0.60 0.60 Meal, Cottonseed 0.32 0.25 0.34 0.38 0.37 0.37 Meal, Fish 2.28 2.21 2.53 2.48 2.37 2.37 Meal, Palm Kernel 6.46 6.38 6.74 7.07 7.28 7.28 Meal, Peanut 0.05 0.05 0.16 0.10 0.09 0.09 Meal, Rapeseed 6.07 5.69 6.03 6.04 6.13 6.09 Meal, Soybean 64.40 65.50 64.48 64.61 65.43 65.69 Meal, Sunflowerseed 5.87 6.23 7.44 7.10 7.21 7.21 Total 86.18 86.91 88.19 88.38 89.48 89.70 Domestic Consumption Meal, Copra 1.72 1.73 1.78 1.81 1.85 1.85 Meal, Cottonseed 15.47 13.19 13.32 15.55 15.71 15.93 Meal, Fish 4.87 4.75 5.43 4.97 4.89 4.89 Meal, Palm Kernel 8.93 8.40 9.78 10.01 10.16 10.16 Meal, Peanut 6.65 6.66 7.31 7.39 7.46 7.22 Meal, Rapeseed 38.85 39.25 39.85 40.20 40.36 39.80 Meal, Soybean 201.56 213.02 221.88 228.78 239.69 238.73 Meal, Sunflowerseed 15.58 16.18 19.10 20.03 20.30 20.44 Total 293.64 303.17 318.45 328.72 340.42 339.02 Ending Stocks Meal, Copra 0.13 0.13 0.15 0.18 0.19 0.19 Meal, Cottonseed 0.22 0.07 0.09 0.10 0.09 0.09 Meal, Fish 0.26 0.27 0.26 0.28 0.28 0.28 Meal, Palm Kernel 0.64 0.58 0.58 0.65 0.84 0.84 Meal, Peanut 0.03 0.06 0.03 0.03 0.03 0.03 Meal, Rapeseed 0.98 1.10 0.95 0.71 0.81 0.70 Meal, Soybean 14.04 13.20 12.76 10.62 10.62 10.74 Meal, Sunflowerseed 1.66 1.69 1.43 1.35 0.98 1.25 Total 17.95 17.09 16.26 13.92 13.84 14.11 Totals may not add due to rounding Foreign Agricultural Service/USDA 11 September 2018

Table 03: Major Vegetable Oils: World Supply and Distribution (Commodity View) Million Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production Oil, Coconut 3.37 3.32 3.39 3.54 3.60 3.60 Oil, Cottonseed 5.12 4.29 4.41 5.15 5.23 5.29 Oil, Olive 2.40 3.13 2.48 3.27 3.15 3.15 Oil, Palm 61.75 58.89 65.26 69.60 72.76 72.76 Oil, Palm Kernel 7.32 7.00 7.63 8.11 8.41 8.41 Oil, Peanut 5.44 5.48 5.94 6.03 6.08 5.89 Oil, Rapeseed 27.53 27.77 28.20 28.37 28.52 28.12 Oil, Soybean 49.28 51.53 53.68 54.78 57.58 57.51 Oil, Sunflowerseed 14.96 15.38 18.17 18.39 19.10 19.11 Total 177.17 176.78 189.16 197.23 204.42 203.83 Oil, Coconut 1.82 1.61 1.50 1.54 1.46 1.46 Oil, Cottonseed 0.07 0.05 0.05 0.05 0.05 0.05 Oil, Olive 0.90 0.79 0.79 0.88 0.87 0.87 Oil, Palm 44.47 42.37 45.49 46.24 49.53 48.70 Oil, Palm Kernel 3.06 2.63 2.69 2.74 2.76 2.76 Oil, Peanut 0.25 0.25 0.23 0.23 0.23 0.23 Oil, Rapeseed 3.95 4.13 4.39 4.51 4.74 4.69 Oil, Soybean 10.03 11.64 10.84 9.66 10.67 10.59 Oil, Sunflowerseed 6.18 7.02 8.92 8.34 8.25 8.46 Total 70.73 70.49 74.89 74.17 78.56 77.80 Exports Oil, Coconut 1.94 1.58 1.73 1.69 1.69 1.69 Oil, Cottonseed 0.14 0.06 0.07 0.09 0.08 0.08 Oil, Olive 0.99 0.87 0.88 1.01 0.99 0.99 Oil, Palm 47.39 43.74 48.91 49.30 52.64 51.79 Oil, Palm Kernel 3.23 3.02 3.08 3.21 3.25 3.25 Oil, Peanut 0.26 0.26 0.27 0.28 0.28 0.28 Oil, Rapeseed 4.07 4.17 4.52 4.63 4.74 4.74 Oil, Soybean 11.12 11.77 11.24 10.08 11.09 11.14 Oil, Sunflowerseed 7.38 8.10 10.41 9.75 9.69 9.79 Total 76.52 73.57 81.12 80.02 84.45 83.75 Domestic Consumption Oil, Coconut 3.29 3.26 3.21 3.28 3.27 3.27 Oil, Cottonseed 5.05 4.40 4.38 5.06 5.20 5.29 Oil, Olive 2.65 2.81 2.59 2.87 3.05 3.05 Oil, Palm 58.21 58.90 61.49 64.81 68.67 68.65 Oil, Palm Kernel 7.21 6.81 7.16 7.54 7.87 7.87 Oil, Peanut 5.43 5.46 5.83 5.99 6.07 5.85 Oil, Rapeseed 27.04 28.31 29.04 28.87 28.92 28.51 Oil, Soybean 47.73 52.08 53.34 54.56 57.15 56.75 Oil, Sunflowerseed 14.11 15.22 16.67 17.34 17.56 17.58 Total 170.73 177.25 183.70 190.31 197.74 196.80 Ending Stocks Oil, Coconut 0.29 0.38 0.34 0.46 0.56 0.56 Oil, Cottonseed 0.22 0.10 0.10 0.15 0.14 0.12 Oil, Olive 0.31 0.53 0.34 0.61 0.61 0.59 Oil, Palm 10.24 8.86 9.21 10.94 11.33 11.97 Oil, Palm Kernel 0.87 0.68 0.75 0.85 0.90 0.90 Oil, Peanut 0.24 0.24 0.32 0.30 0.25 0.28 Oil, Rapeseed 5.91 5.34 4.37 3.75 3.18 3.32 Oil, Soybean 4.34 3.66 3.60 3.39 3.41 3.61 Oil, Sunflowerseed 2.60 1.68 1.69 1.33 1.74 1.52 Total 25.03 21.47 20.71 21.79 22.11 22.87 Totals may not add due to rounding Foreign Agricultural Service/USDA 12 September 2018

Table 04: Major Oilseeds: World Supply and Distribution (Country View) Million Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production United States 116.03 115.88 126.94 131.03 135.55 138.44 Brazil 100.15 99.02 117.59 123.31 124.43 124.59 Argentina 66.31 63.10 60.16 42.46 61.99 61.99 China 57.66 54.45 56.53 60.42 60.45 60.80 India 32.28 29.37 37.26 34.06 36.61 36.06 Other 166.48 162.87 175.76 182.34 184.10 182.79 Total 538.91 524.69 574.23 573.63 603.12 604.67 China 83.15 87.93 98.42 99.16 100.95 100.25 European Union 17.35 20.14 19.28 20.02 21.69 21.76 Mexico 5.73 5.82 6.03 6.56 6.67 6.67 Japan 5.70 5.78 5.79 5.96 6.06 6.06 Egypt 2.01 1.37 2.18 3.34 3.22 3.37 Thailand 2.51 2.91 3.18 2.56 3.36 3.31 Indonesia 2.25 2.52 3.00 3.06 3.27 3.27 Pakistan 1.67 2.62 2.76 3.11 3.56 3.26 Turkey 3.12 2.98 3.01 3.30 3.14 3.14 Iran 1.38 2.04 2.15 2.72 2.68 2.83 Other 18.72 19.68 20.65 23.96 23.53 23.49 Total 143.60 153.79 166.44 173.74 178.13 177.41 Exports Brazil 50.85 54.65 63.37 76.97 75.28 75.28 United States 51.11 53.97 60.08 59.21 57.20 57.20 Canada 13.01 14.55 15.64 15.74 17.13 16.63 Argentina 11.56 11.21 7.88 2.97 8.87 8.87 Paraguay 4.62 5.41 6.13 6.25 5.91 5.91 Ukraine 4.43 3.89 4.13 4.93 5.50 5.50 Australia 2.92 2.23 3.41 2.96 2.89 2.84 Other 8.67 7.40 9.79 8.26 9.73 9.18 Crush Total 147.17 153.30 170.44 177.30 182.50 181.40 China 112.09 117.80 124.52 129.55 134.78 133.35 United States 55.11 55.06 56.26 60.18 60.62 60.87 European Union 47.84 46.74 46.97 48.13 48.63 48.43 Argentina 43.39 46.37 46.72 41.58 46.89 46.89 Brazil 42.94 41.85 42.91 46.21 46.02 46.17 India 25.15 22.70 27.61 26.53 28.33 28.03 Russia 13.08 13.59 15.40 15.85 16.95 16.95 Ukraine 11.45 12.93 15.58 14.80 15.50 15.50 Indonesia 10.25 10.02 10.98 11.58 11.95 11.95 Canada 9.06 10.25 11.05 11.21 11.35 11.35 Mexico 6.41 6.49 6.73 7.34 7.59 7.59 Pakistan 5.96 5.58 5.88 6.46 7.20 6.90 Malaysia 5.56 5.21 5.38 5.64 5.99 5.99 Turkey 4.30 3.68 4.05 4.68 5.00 5.00 Japan 4.66 4.73 4.86 4.83 4.88 4.88 Other 43.02 42.94 44.59 48.63 50.15 50.46 Total 440.26 445.93 469.47 483.16 501.81 500.30 Ending Stocks Argentina 33.42 34.86 37.19 33.98 35.24 37.14 United States 6.76 6.87 9.60 12.73 23.19 24.80 Brazil 19.21 18.66 26.57 23.18 24.00 22.83 China 18.60 18.32 21.93 23.66 21.95 22.01 European Union 3.85 4.15 2.73 3.68 3.19 3.11 Other 12.82 11.63 12.89 12.98 12.37 11.95 Total 94.66 94.48 110.91 110.21 119.94 121.83 Major Oilseeds includes Copra, Cottonseed, Palm Kernel, Peanut, Rapeseed, Soybeans and Sunflowerseeds. Foreign Agricultural Service/USDA 13 September 2018

Table 05: Major Protein Meals: World Supply and Distribution (Country View) Million Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production China 78.57 83.55 88.77 91.77 95.90 94.74 United States 43.21 42.78 43.11 46.71 46.72 46.94 Brazil 32.48 31.74 32.46 34.82 34.67 34.74 Argentina 32.29 34.51 34.72 30.28 34.71 34.71 European Union 30.63 30.16 30.17 30.91 31.50 31.45 Other 83.72 83.30 91.72 95.43 99.93 99.95 Total 300.89 306.04 320.95 329.93 343.43 342.53 European Union 25.82 25.40 25.02 24.60 24.75 24.75 Vietnam 4.97 5.71 5.67 5.49 5.70 5.70 Indonesia 4.04 4.30 4.35 4.49 4.70 4.70 United States 3.87 4.08 3.92 3.79 3.79 3.79 Thailand 3.65 2.98 3.32 3.71 3.43 3.41 Korea, South 3.42 3.39 3.03 3.17 3.21 3.22 Japan 2.31 2.60 2.93 3.03 3.13 3.13 Other 34.39 34.72 36.60 36.55 37.86 37.67 Total 82.49 83.18 84.85 84.84 86.57 86.38 Exports Argentina 29.19 31.09 32.13 27.08 30.70 30.70 Brazil 14.29 15.41 13.76 16.35 15.00 15.00 United States 12.14 11.18 10.83 13.37 12.48 12.62 Ukraine 3.74 4.35 5.19 4.78 5.07 5.07 Canada 3.86 4.44 4.98 4.90 5.06 5.06 Indonesia 4.28 4.12 4.51 4.79 4.89 4.89 Paraguay 2.59 2.56 2.41 2.43 2.58 2.58 Other 16.09 13.77 14.39 14.68 13.69 13.78 Total 86.18 86.91 88.19 88.38 89.48 89.70 Domestic Consumption China 78.73 83.33 90.79 94.02 97.82 96.66 European Union 54.24 54.30 54.65 54.42 55.23 55.18 United States 34.94 35.69 36.08 37.12 38.02 38.10 Brazil 16.88 17.46 18.12 19.02 19.70 19.77 India 12.17 12.88 13.91 14.29 15.01 14.87 Russia 5.32 5.87 6.62 7.24 7.90 7.90 Mexico 6.37 6.97 7.06 7.27 7.52 7.52 Vietnam 5.85 6.47 6.84 7.07 7.29 7.29 Japan 5.54 5.87 6.29 6.41 6.49 6.49 Indonesia 4.90 5.15 5.31 5.47 5.64 5.64 Other 68.70 69.18 72.78 76.42 79.81 79.61 SME Total 293.64 303.17 318.45 328.72 340.42 339.02 China 73.80 78.55 86.01 88.61 92.34 91.15 European Union 46.36 46.60 46.73 46.49 47.38 47.40 United States 33.56 34.28 34.65 35.78 36.63 36.71 Brazil 16.64 17.26 17.88 18.71 19.38 19.44 India 10.62 11.00 11.91 12.21 12.89 12.74 Mexico 5.97 6.57 6.66 6.86 7.10 7.10 Vietnam 5.63 6.23 6.55 6.79 7.01 7.01 Other 75.22 77.03 80.40 84.26 88.28 88.11 Total 267.80 277.53 290.80 299.73 311.01 309.66 Ending Stocks Argentina 4.26 4.34 3.39 2.85 2.80 2.86 Brazil 3.82 2.72 3.33 2.81 2.81 2.81 Indonesia 0.54 0.57 0.55 0.60 0.77 0.77 European Union 1.76 1.83 1.06 0.72 0.68 0.68 Ukraine 0.58 0.58 0.59 0.69 0.45 0.64 Other 6.99 7.05 7.34 6.26 6.34 6.35 Total 17.95 17.09 16.26 13.92 13.84 14.11 Major Protein Meals include Copra, Cottonseed, Fish, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflower Meal. Foreign Agricultural Service/USDA 14 September 2018

Table 06: Major Vegetable Oils: World Supply and Distribution (Country View) Million Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production Indonesia 37.78 36.68 41.10 43.83 45.97 45.97 China 25.04 26.27 27.45 28.51 29.56 29.24 Malaysia 22.27 19.85 21.13 22.38 23.51 23.51 European Union 18.08 18.42 18.07 18.88 18.81 18.66 United States 10.94 11.21 11.43 12.04 12.23 12.28 Argentina 8.97 9.69 9.82 8.95 9.97 9.97 Brazil 8.65 8.46 8.73 9.37 9.36 9.38 Other 45.44 46.20 51.44 53.27 55.02 54.83 Total 177.17 176.78 189.16 197.23 204.42 203.83 India 14.14 15.11 15.43 15.31 17.46 16.51 European Union 9.88 9.97 10.91 9.90 9.94 9.94 China 8.63 7.77 8.00 8.17 8.62 8.87 United States 4.23 4.53 4.73 4.99 5.12 5.12 Pakistan 2.98 2.91 3.28 3.19 3.36 3.35 Bangladesh 1.79 2.15 2.15 2.28 2.43 2.43 Egypt 2.25 2.04 2.16 1.96 2.08 2.03 Philippines 0.87 1.05 1.30 1.21 1.31 1.31 Turkey 1.53 1.41 1.50 1.25 1.30 1.30 Iran 1.14 0.99 1.28 1.09 1.24 1.19 Other 23.30 22.55 24.15 24.83 25.71 25.75 Total 70.73 70.49 74.89 74.17 78.56 77.80 Exports Indonesia 28.51 25.19 29.86 29.32 31.82 30.82 Malaysia 18.84 17.85 17.46 18.20 19.10 19.10 Argentina 5.72 6.41 6.28 4.74 5.96 5.96 Ukraine 4.12 4.81 6.11 5.60 5.73 5.83 Canada 2.54 2.93 3.32 3.32 3.36 3.36 Russia 2.23 2.23 2.98 3.15 3.13 3.13 European Union 2.48 2.48 2.42 2.37 2.52 2.57 Other 12.08 11.66 12.68 13.33 12.85 13.00 Total 76.52 73.57 81.12 80.02 84.45 83.75 Domestic Consumption China 33.66 34.88 36.10 37.19 38.28 38.21 European Union 25.81 26.06 26.39 26.27 26.27 26.04 India 19.88 21.02 22.17 22.22 24.46 23.18 United States 13.68 14.57 14.72 15.50 16.16 16.15 Indonesia 9.90 11.35 11.90 12.98 13.33 14.26 Brazil 7.47 7.50 7.88 8.35 8.51 8.52 Malaysia 4.56 4.53 4.29 4.81 5.16 5.19 Pakistan 4.15 4.25 4.45 4.52 4.87 4.71 Argentina 3.11 3.56 3.71 4.14 4.17 4.17 Russia 3.24 3.31 3.40 3.49 3.62 3.60 Thailand 2.49 2.44 2.70 2.98 3.26 3.11 Mexico 2.56 2.65 2.72 2.82 2.90 2.90 Bangladesh 2.08 2.37 2.49 2.64 2.80 2.80 Egypt 2.48 2.47 2.50 2.55 2.61 2.62 Japan 2.36 2.36 2.42 2.49 2.56 2.56 Other 33.33 33.94 35.87 37.37 38.78 38.79 Total 170.73 177.25 183.70 190.31 197.74 196.80 Ending Stocks Indonesia 3.02 3.20 2.59 4.16 4.60 5.10 Malaysia 3.00 1.83 2.29 2.93 2.92 3.34 China 5.20 4.25 3.44 2.74 2.55 2.44 European Union 1.86 1.70 1.86 2.00 1.97 1.98 India 1.93 1.73 1.90 1.54 1.59 1.72 Other 10.03 8.77 8.63 8.42 8.50 8.29 Total 25.03 21.47 20.71 21.79 22.11 22.87 Major Vegetable Oils includes Coconut, Cottonseed, Olive, Palm, Palm Kernel, Peanut, Rapeseed, Soybean, and Sunflowerseed oil. Foreign Agricultural Service/USDA 15 September 2018

Table 07: Soybeans: World Supply and Distribution Thousand Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production United States 106,878 106,857 116,920 119,518 124,808 127,726 Brazil 97,200 96,500 114,600 119,500 120,500 120,500 Argentina 61,450 58,800 55,000 37,800 57,000 57,000 China 12,154 11,785 12,900 14,200 14,500 15,000 India 8,711 6,929 10,992 8,350 10,800 10,500 Paraguay 8,154 9,217 10,336 10,000 9,800 9,800 Canada 6,045 6,456 6,597 7,717 7,300 7,000 Other 19,365 19,033 20,776 19,735 22,396 21,791 Total 319,957 315,577 348,121 336,820 367,104 369,317 China 78,350 83,230 93,495 94,000 95,000 94,000 European Union 13,914 15,120 13,422 14,500 15,800 15,800 Mexico 3,819 4,126 4,126 4,600 4,750 4,750 Egypt 1,947 1,300 2,115 3,250 3,150 3,300 Japan 3,004 3,186 3,175 3,250 3,300 3,300 Thailand 2,411 2,798 3,077 2,450 3,250 3,200 Indonesia 2,006 2,274 2,649 2,700 2,900 2,900 Iran 1,311 1,864 1,914 2,500 2,450 2,600 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 Other 12,882 14,674 15,543 19,455 19,049 19,089 Total 124,361 133,331 144,353 151,855 154,829 154,119 Exports Brazil 50,612 54,383 63,137 76,700 75,000 75,000 United States 50,136 52,870 58,960 57,969 56,064 56,064 Argentina 10,575 9,922 7,026 2,100 8,000 8,000 Paraguay 4,576 5,400 6,129 6,250 5,900 5,900 Canada 3,763 4,236 4,592 4,928 5,500 5,000 Other 6,548 5,705 7,512 5,668 7,499 6,939 Crush Total 126,210 132,516 147,356 153,615 157,963 156,903 China 74,500 81,500 88,000 90,000 95,000 93,500 United States 50,975 51,335 51,742 55,928 56,064 56,336 Argentina 40,235 43,267 43,303 37,700 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 16,300 16,600 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 3,200 3,100 3,300 Iran 1,450 1,950 2,050 2,650 2,600 2,750 Pakistan 500 1,250 1,680 2,300 2,300 2,400 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 Taiwan 1,980 1,980 2,045 2,080 2,100 2,100 Other 14,476 15,326 15,181 16,083 17,554 17,565 Total 264,726 274,988 287,204 293,691 308,668 308,201 Ending Stocks Argentina 31,750 33,650 35,470 32,670 34,100 35,970 United States 5,188 5,354 8,208 10,738 21,352 22,998 Brazil 19,078 18,558 26,462 23,000 23,800 22,650 China 17,009 16,910 20,391 22,456 20,781 20,756 European Union 843 1,559 1,131 1,473 1,398 1,423 Other 4,095 4,392 5,020 4,404 4,508 4,467 Total 77,963 80,423 96,682 94,741 105,939 108,264 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 16 September 2018

Table 08: Soybean Meal: World Supply and Distribution Thousand Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production China 59,004 64,548 69,696 71,280 75,240 74,052 United States 40,880 40,525 40,630 44,361 44,180 44,407 Brazil 31,300 30,750 31,280 33,300 33,100 33,100 Argentina 30,928 33,211 33,280 28,630 33,050 33,050 European Union 11,416 11,811 11,376 11,771 12,877 13,114 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 25,468 27,090 28,286 31,538 32,953 33,348 Total 208,456 215,815 225,383 230,910 242,708 242,379 European Union 19,623 19,207 18,924 18,500 18,500 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 Philippines 2,204 2,618 2,662 2,750 2,850 2,850 Thailand 3,068 2,433 2,782 3,150 2,870 2,850 Mexico 1,795 2,367 1,991 2,000 2,070 2,070 Korea, South 1,751 2,118 1,764 1,850 1,850 1,870 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 19,601 18,887 18,290 20,071 19,761 Total 60,685 61,859 60,542 60,340 62,461 62,151 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 13,063 12,111 12,247 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 4,640 5,214 4,880 4,389 4,509 Total 64,404 65,502 64,475 64,613 65,430 65,686 Domestic Consumption China 57,467 62,663 68,646 70,410 74,370 73,182 United States 29,282 30,044 30,318 31,752 32,387 32,478 European Union 30,142 30,742 30,342 30,042 31,142 31,342 Brazil 15,700 16,470 16,943 17,500 18,130 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 4,855 4,975 5,625 5,620 Indonesia 4,000 4,200 4,264 4,450 4,600 4,600 Thailand 4,100 4,230 4,232 4,250 4,400 4,350 Russia 2,700 3,100 3,250 3,600 4,000 4,000 Egypt 2,650 2,850 2,980 3,150 3,400 3,425 Japan 3,365 3,458 3,420 3,463 3,420 3,420 Iran 3,000 3,080 3,180 3,275 3,380 3,380 Argentina 2,402 2,672 2,853 3,000 3,200 3,215 Philippines 2,400 2,600 2,720 2,850 2,950 2,950 Other 30,053 31,280 32,370 34,138 36,367 36,321 Total 201,561 213,019 221,883 228,775 239,691 238,733 Ending Stocks Argentina 4,025 4,231 3,335 2,765 2,735 2,800 Brazil 3,812 2,710 3,320 2,800 2,800 2,800 United States 236 239 363 363 363 363 India 553 130 478 98 305 293 European Union 860 832 456 300 245 272 Other 4,556 5,053 4,810 4,298 4,172 4,207 Total 14,042 13,195 12,762 10,624 10,620 10,735 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 17 September 2018

Table 09: Soybean Oil: World Supply and Distribution Thousand Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep Production China 13,347 14,605 15,770 16,128 17,024 16,755 United States 9,706 9,956 10,035 10,725 10,793 10,845 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 3,097 3,154 India 1,386 990 1,620 1,368 1,620 1,620 Mexico 745 785 820 892 930 930 Other 5,905 6,289 6,553 7,247 7,561 7,653 Total 49,281 51,526 53,684 54,781 57,580 57,512 India 2,815 4,269 3,534 3,000 3,400 3,400 Bangladesh 508 639 830 780 780 780 Algeria 631 732 667 720 760 760 China 773 586 711 450 700 700 Morocco 432 465 497 500 515 515 Peru 395 382 449 400 435 435 Colombia 304 372 352 355 375 375 Korea, South 257 250 306 285 300 300 Egypt 480 674 246 245 300 250 Iran 421 299 257 200 270 250 Other 3,018 2,970 2,991 2,723 2,830 2,820 Total 10,034 11,638 10,840 9,658 10,665 10,585 Exports Argentina 5,094 5,698 5,387 3,850 5,100 5,100 Brazil 1,510 1,550 1,241 1,600 1,275 1,275 European Union 1,010 915 831 825 950 1,000 United States 914 1,017 1,159 1,111 998 998 Paraguay 699 709 680 670 710 710 Russia 423 431 529 535 600 600 Bolivia 392 444 236 380 340 340 Other 1,073 1,005 1,181 1,106 1,113 1,113 Total 11,115 11,769 11,244 10,077 11,086 11,136 Domestic Consumption China 14,200 15,350 16,350 16,550 17,600 17,300 United States 8,600 9,145 9,010 9,571 9,979 9,979 Brazil 6,215 6,290 6,570 6,885 6,980 6,965 India 4,100 5,250 5,200 4,550 4,900 4,800 Argentina 2,401 2,840 2,985 3,405 3,418 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 668 785 1,005 990 1,000 1,000 Egypt 752 960 610 760 800 810 Algeria 640 700 710 710 750 750 Iran 660 680 700 710 720 720 Pakistan 242 415 470 490 525 525 Morocco 450 480 470 495 515 515 Korea, South 435 440 450 470 495 495 Colombia 385 425 440 450 460 460 Other 4,977 5,015 5,116 5,223 5,590 5,594 Total 47,726 52,080 53,341 54,564 57,147 56,746 Ending Stocks United States 841 765 776 978 937 982 India 471 477 430 246 361 461 China 778 523 536 429 432 459 European Union 198 164 149 175 267 274 Argentina 365 260 283 368 210 210 Other 1,689 1,468 1,422 1,198 1,203 1,223 Total 4,342 3,657 3,596 3,394 3,410 3,609 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 18 September 2018

Table 10: Soybeans and Products: World Trade Thousand Metric Tons Meal, Soybean Oil, Soybean Oilseed, Soybean Marketing Year 2016/17 2017/18 2016/17 2017/18 2016/17 2017/18 Exports North America 10,809 13,434 12,612 1,358 1,272 1,152 63,552 62,897 61,064 Canada (Aug-Jul) 291 357 350 175 157 150 4,592 4,928 5,000 United States (Oct-Sep) 10,505 13,063 12,247 1,159 1,111 998 58,960 57,969 56,064 South America 48,766 46,681 48,940 7,555 6,512 7,437 79,537 86,317 91,343 Argentina (Oct-Sep) 31,323 26,200 29,800 5,387 3,850 5,100 7,026 2,100 8,000 Brazil (Oct-Sep) 13,762 16,350 15,000 1,241 1,600 1,275 63,137 76,700 75,000 Paraguay (Jan-Dec) 2,407 2,430 2,580 680 670 710 6,129 6,250 5,900 South Asia 2,021 1,507 1,408 1 2 5 269 250 250 India (Oct-Sep) 2,008 1,500 1,400 1 2 5 269 250 250 Other 2,879 2,991 2,726 2,330 2,291 2,542 3,998 4,151 4,246 World Total 64,475 64,613 65,686 11,244 10,077 11,136 147,356 153,615 156,903 European Union (Oct-Sep) 18,924 18,500 18,500 285 245 200 13,422 14,500 15,800 East Asia 3,502 3,698 3,627 1,145 857 1,133 100,525 101,132 101,282 China (Oct-Sep) 61 130 30 711 450 700 93,495 94,000 94,000 Japan (Oct-Sep) 1,621 1,650 1,650 5 5 5 3,175 3,250 3,300 Korea, South (Oct-Sep) 1,764 1,850 1,870 306 285 300 1,286 1,330 1,400 Taiwan (Oct-Sep) 33 38 42 0 0 0 2,566 2,550 2,580 Southeast Asia 16,097 16,651 16,826 273 258 288 8,408 8,070 9,391 Indonesia (Oct-Sep) 4,255 4,400 4,600 23 23 23 2,649 2,700 2,900 Malaysia (Oct-Sep) 1,427 1,525 1,500 138 120 120 768 850 880 Philippines (Jan-Dec) 2,662 2,750 2,850 56 45 47 248 200 240 Thailand (Sep-Aug) 2,782 3,150 2,850 8 0 8 3,077 2,450 3,200 Vietnam (Jan-Dec) 4,945 4,800 5,000 30 50 70 1,646 1,850 2,150 North America 3,129 3,477 3,368 423 355 391 5,218 5,686 6,010 Canada (Aug-Jul) 821 1,023 980 23 21 25 486 487 580 Mexico (Sep-Aug) 1,991 2,000 2,070 255 175 230 4,126 4,600 4,750 South America 4,878 5,140 5,431 1,251 1,188 1,279 3,096 5,191 3,740 Brazil (Oct-Sep) 35 30 30 60 60 60 252 185 350 Colombia (Oct-Sep) 1,284 1,425 1,500 352 355 375 561 550 575 Central America 1,165 1,218 1,258 177 166 170 341 354 373 Caribbean 1,007 1,052 1,098 344 320 331 147 148 153 Middle East 4,950 3,980 4,795 345 318 365 5,232 6,265 6,420 Iran (Oct-Sep) 1,507 1,050 1,250 257 200 250 1,914 2,500 2,600 Israel (Oct-Sep) 154 165 200 10 10 10 374 425 430 Syria (Jan-Dec) 20 25 35 0 1 1 3 15 15 Turkey (Oct-Sep) 790 500 700 0 0 0 2,271 2,600 2,600 North Africa 3,135 2,750 3,060 1,560 1,585 1,655 2,653 3,970 4,105 Egypt (Oct-Sep) 1,053 600 825 246 245 250 2,115 3,250 3,300 Other 3,755 3,874 4,188 5,037 4,366 4,773 5,311 6,539 6,845 World Total 60,542 60,340 62,151 10,840 9,658 10,585 144,353 151,855 154,119 Foreign Agricultural Service/USDA 19 September 2018

Table 11: Palm Oil: World Supply and Distribution Thousand Metric Tons 2014/15 2015/16 2016/17 2017/18 Aug Sep 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 910 970 970 970 970 970 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 9,500 11,600 10,600 European Union 6,935 6,636 7,224 6,500 6,500 6,500 China 5,696 4,689 4,881 5,100 5,250 5,400 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 1,640 1,600 1,600 Egypt 1,489 1,038 1,323 1,250 1,300 1,300 Philippines 792 941 1,165 1,100 1,200 1,200 Russia 854 933 849 950 950 950 Vietnam 715 727 792 820 840 840 Other 13,602 13,008 14,163 14,777 15,388 15,408 Total 44,471 42,370 45,494 46,237 49,528 48,698 Exports Indonesia 25,964 22,906 27,633 27,000 29,500 28,500 Malaysia 17,378 16,621 16,301 17,000 17,900 17,900 Guatemala 453 614 718 710 712 712 Colombia 316 420 502 700 700 700 Papua New Guinea 607 575 663 635 640 640 Other 2,671 2,606 3,090 3,253 3,185 3,335 Total 47,389 43,742 48,907 49,298 52,637 51,787 Domestic Consumption Indonesia 7,520 8,870 9,110 9,985 10,130 11,055 India 9,150 9,100 9,550 9,700 11,820 10,820 European Union 6,900 6,600 6,800 6,550 6,450 6,450 China 5,700 4,800 4,830 5,050 5,250 5,400 Malaysia 2,941 2,990 2,685 3,117 3,425 3,449 Pakistan 2,738 2,795 2,995 3,145 3,245 3,245 Thailand 1,925 1,835 2,106 2,440 2,590 2,440 Bangladesh 1,275 1,411 1,314 1,470 1,625 1,625 United States 1,092 1,269 1,355 1,622 1,580 1,580 Philippines 811 930 1,225 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 943 940 952 1,018 1,028 1,028 Russia 810 850 850 900 920 920 Vietnam 674 755 806 827 837 837 Other 12,967 13,334 14,372 15,191 15,856 15,886 Total 58,206 58,899 61,490 64,805 68,666 68,645 Ending Stocks Indonesia 2,734 2,958 2,220 3,735 4,180 4,680 Malaysia 2,641 1,546 2,016 2,649 2,574 3,000 India 539 499 490 490 470 470 European Union 456 344 630 440 350 350 Pakistan 382 307 387 342 347 347 Other 3,485 3,202 3,465 3,285 3,407 3,119 Total 10,237 8,856 9,208 10,941 11,328 11,966 Foreign Agricultural Service/USDA 20 September 2018

Table 12: Rapeseed and Products: World Supply and Distribution Thousand Metric Tons Meal, Rapeseed Oil, Rapeseed Oilseed, Rapeseed Marketing Year 2016/17 2017/18 2016/17 2017/18 2016/17 2017/18 Production China (Oct-Sep) 10,771 11,128 11,247 7,059 7,293 7,371 14,546 14,400 13,950 India (Oct-Sep) 3,460 3,056 3,250 2,200 1,950 2,070 7,091 5,850 6,500 Canada (Aug-Jul) 5,150 5,149 5,285 4,017 4,143 4,110 19,599 21,328 21,100 Japan (Oct-Sep) 1,355 1,360 1,390 1,061 1,075 1,095 4 4 4 European Union (Jul-Jun) 13,908 13,851 12,996 10,199 10,157 9,530 20,538 22,145 19,000 Other 5,206 5,314 5,612 3,667 3,748 3,942 9,547 10,827 11,145 World Total 39,850 39,858 39,780 28,203 28,366 28,118 71,325 74,554 71,699 China (Oct-Sep) 875 1,250 1,000 802 1,000 1,000 4,260 4,600 5,600 India (Oct-Sep) 0 0 0 317 300 300 0 0 0 Canada (Aug-Jul) 25 17 18 54 14 20 94 107 100 Japan (Oct-Sep) 8 7 7 15 18 10 2,392 2,450 2,500 European Union (Jul-Jun) 219 242 300 153 158 150 4,224 4,006 4,400 Other 4,762 4,621 4,781 3,046 3,017 3,211 4,688 4,267 4,310 World Total 5,889 6,137 6,106 4,387 4,507 4,691 15,658 15,430 16,910 Exports China (Oct-Sep) 12 15 15 18 20 20 0 0 0 India (Oct-Sep) 414 550 450 3 3 3 0 0 0 Canada (Aug-Jul) 4,681 4,535 4,700 3,133 3,151 3,200 11,022 10,789 11,600 Japan (Oct-Sep) 7 5 5 1 1 1 0 0 0 European Union (Jul-Jun) 511 458 300 342 271 250 319 129 130 Other 408 475 623 1,025 1,179 1,261 4,458 5,430 5,730 World Total 6,033 6,038 6,093 4,522 4,625 4,735 15,799 16,348 17,460 Domestic Consumption China (Oct-Sep) 11,634 12,363 12,232 8,700 8,900 8,650 18,700 19,300 19,500 India (Oct-Sep) 2,890 2,700 2,800 2,480 2,335 2,380 6,850 6,070 6,500 Canada (Aug-Jul) 539 614 615 956 965 985 9,420 9,597 9,591 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 13,000 10,100 10,000 9,500 25,400 25,350 23,800 Other 9,562 9,451 9,756 5,729 5,584 5,891 9,424 9,663 10,007 World Total 39,852 40,200 39,803 29,043 28,865 28,508 72,236 72,435 71,903 Ending Stocks China (Oct-Sep) 0 0 0 2,676 2,049 1,750 1,346 1,046 1,096 India (Oct-Sep) 401 207 207 331 243 230 710 490 490 Canada (Aug-Jul) 52 69 57 473 514 459 1,342 2,391 2,400 Japan (Oct-Sep) 59 49 41 27 38 40 21 20 19 European Union (Jul-Jun) 274 209 205 435 479 409 928 1,600 1,070 Other 163 172 186 426 428 429 1,249 1,250 968 World Total 949 706 696 4,368 3,751 3,317 5,596 6,797 6,043 Foreign Agricultural Service/USDA 21 September 2018

Table 13: Sunflowerseed and Products: World Supply and Distribution Thousand Metric Tons Oilseed, Sunflowerseed Meal, Sunflowerseed Oil, Sunflowerseed Marketing Year 2016/17 2017/18 2016/17 2017/18 2016/17 2017/18 Production Argentina (Sep-Aug) 3,547 3,534 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 1,740 963 1,100 1,128 761 890 912 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 9,600 4,266 4,644 4,698 3,338 3,634 3,676 Other 8,442 8,631 8,989 2,654 2,802 2,979 2,256 2,377 2,523 World Total 47,965 47,456 49,829 19,329 19,761 20,515 18,165 18,387 19,106 Argentina (Sep-Aug) 0 0 0 0 0 0 0 0 0 Russia (Sep-Aug) 107 50 50 11 40 20 18 30 20 Turkey (Sep-Aug) 591 650 500 958 935 930 793 515 500 Ukraine (Sep-Aug) 24 33 20 1 7 0 0 2 2 European Union (Oct-Sep) 697 535 550 3,708 3,700 3,800 1,834 1,500 1,650 Other 754 866 918 2,267 2,605 2,288 6,279 6,289 6,286 World Total 2,173 2,134 2,038 6,945 7,287 7,038 8,924 8,336 8,458 Exports Argentina (Sep-Aug) 75 75 75 789 825 850 770 765 735 Russia (Sep-Aug) 368 95 100 1,300 1,250 1,200 2,178 2,250 2,100 Turkey (Sep-Aug) 47 60 60 4 5 5 635 390 370 Ukraine (Sep-Aug) 191 45 100 4,807 4,350 4,600 5,851 5,350 5,600 European Union (Oct-Sep) 353 620 350 275 400 300 459 480 490 Other 1,406 1,609 1,626 263 274 259 513 511 497 World Total 2,440 2,504 2,311 7,438 7,104 7,214 10,406 9,746 9,792 Domestic Consumption Argentina (Sep-Aug) 3,130 3,560 3,556 540 600 620 707 712 727 Russia (Sep-Aug) 10,580 10,460 10,860 2,850 2,950 3,150 2,055 2,060 2,125 Turkey (Sep-Aug) 1,862 2,122 2,182 1,850 2,050 2,050 980 1,020 1,030 Ukraine (Sep-Aug) 14,780 13,890 14,700 1,300 1,270 1,375 580 585 590 European Union (Oct-Sep) 8,990 9,690 9,790 7,860 8,060 8,210 4,610 4,590 4,790 Other 7,645 7,894 8,369 4,701 5,096 5,031 7,733 8,374 8,317 World Total 46,987 47,616 49,457 19,101 20,026 20,436 16,665 17,341 17,579 Ending Stocks Argentina (Sep-Aug) 1,238 1,137 1,006 45 72 54 26 14 17 Russia (Sep-Aug) 344 201 291 352 297 236 234 84 174 Turkey (Sep-Aug) 49 67 65 150 130 133 31 26 38 Ukraine (Sep-Aug) 421 219 439 434 479 493 125 83 130 European Union (Oct-Sep) 600 504 514 328 212 200 261 325 371 Other 713 707 619 120 157 134 1,017 798 793 World Total 3,365 2,835 2,934 1,429 1,347 1,250 1,694 1,330 1,523 Foreign Agricultural Service/USDA 22 September 2018

Table 14: Minor Vegetable Oils: World Supply and Distribution Thousand Metric Tons Oil, Peanut Oil, Cottonseed Oil, Olive Marketing Year 2016/17 2017/18 2016/17 2017/18 2016/17 2017/18 Production China (Oct-Sep) 2,896 3,040 2,992 1,115 1,382 1,395 5 5 5 India (Oct-Sep) 1,238 1,188 1,089 1,160 1,320 1,320 Turkey (Nov-Oct) 7 7 7 187 232 268 177 280 250 United States (Aug-Jul) 129 105 117 246 252 268 15 16 16 European Union (Oct-Sep) 13 13 13 35 44 44 1,745 2,200 2,240 Other 1,659 1,675 1,673 1,671 1,922 1,999 540 767 636 World Total 5,942 6,028 5,891 4,414 5,152 5,294 2,482 3,268 3,147 China (Oct-Sep) 111 110 110 0 0 0 44 46 48 India (Oct-Sep) 0 0 0 0 0 0 Turkey (Nov-Oct) 0 0 0 0 0 0 0 0 0 United States (Aug-Jul) 18 32 27 0 2 2 316 322 330 European Union (Oct-Sep) 73 60 70 1 1 1 110 180 150 Other 24 23 23 45 44 42 318 328 346 World Total 226 225 230 46 47 45 788 876 874 Exports China (Oct-Sep) 8 8 8 2 5 5 0 0 0 India (Oct-Sep) 13 15 15 0 0 0 Turkey (Nov-Oct) 0 0 0 1 2 2 48 75 90 United States (Aug-Jul) 5 5 5 47 50 45 12 12 10 European Union (Oct-Sep) 4 5 5 0 0 0 627 630 670 Other 235 249 249 23 32 32 193 288 221 World Total 265 282 282 73 89 84 880 1,005 991 Domestic Consumption China (Oct-Sep) 2,999 3,142 3,094 1,113 1,377 1,390 49 51 53 India (Oct-Sep) 1,165 1,190 1,075 1,165 1,295 1,335 Turkey (Nov-Oct) 7 7 7 185 234 261 145 160 165 United States (Aug-Jul) 139 133 139 198 201 225 319 326 336 European Union (Oct-Sep) 80 67 77 36 45 45 1,370 1,570 1,720 Other 1,439 1,453 1,461 1,687 1,908 2,029 702 758 774 World Total 5,829 5,992 5,853 4,384 5,060 5,285 2,585 2,865 3,048 Ending Stocks China (Oct-Sep) 0 0 0 0 0 0 0 0 0 India (Oct-Sep) 212 195 194 32 57 42 Turkey (Nov-Oct) 0 0 0 5 1 6 23 68 63 United States (Aug-Jul) 12 11 11 20 23 23 0 0 0 European Union (Oct-Sep) 5 6 7 0 0 0 173 353 353 Other 88 84 70 47 73 53 141 190 177 World Total 317 296 282 104 154 124 337 611 593 Foreign Agricultural Service/USDA 23 September 2018