Production At a critical time when the world needs more oilseeds, humans and Mother Nature are conspiring against it. Excessively wet conditions have delayed planting in the U.S. Notably, planting is 15 percent behind in some of the major producing states. The impact is that yield forecasts are already beginning to decline, as are private estimates of the final planted acres. USDA’s Prospective Plantings survey at the end of March suggested 91 million acres of soybeans but some believe at least 1 million acres will not get planted due to the sub-optimal conditions.  Meanwhile, the EU forecasts a 7 percent increase in oilseed production in 2022/23, but now drought conditions could cut that estimate. Drought also afflicts weste...

TAGS – Soy & Oilseeds, North America