USDA Raises Global Oilseed Production Forecast to Record Levels

The global oilseed production forecast for the 2026/27 crop year has been revised upward by the USDA, leading to concerns of an oversupply and subsequent price drop.

The report predicts a record 723.46 million tons of oilseeds will be produced worldwide, surpassing last year's figure by 22.42 million tons.

The increase is largely attributed to higher rapeseed production forecasts, particularly in Australia, the Russian Federation, and Kazakhstan.