Global soy crushing to increase in 2009-10

For the year October 2009 to September 2010, worldwide soy crushing could rise to 203.4 million tonnes from the previous year due to a decline in processing of other oilseeds.

In the previous season, global soy crushing totalled 194.1 million tonnes.

US oilseed crushing started to recover in October under the lead of soy, said Hamburg-based oilseeds analyst Oil World on Tuesday (Dec 22). US 2009-10 soy crushings are projected to increase to 47.9 million tonnes from 44.8 million tonnes in 2008-09, while US processing of other oilseeds will decline.

China is expected to continue its rising consumption of soy, increasing 2009-10 soy crushings to 44.4 million tonnes from 41.1 million tonnes in 2008-09.

Declining supplies of all other oilseeds will cause a global dependence on soy in 2010, said Oil World.

For April-September 2010, soy crushings are estimated to reach 107.1 million tonnes, up eight million tonnes or 8% from a year ago. Most of the increase is likely to occur in Argentina with three million tonnes more, Brazil with 1.5 million tonnes more, and China with 1.2 million tonnes more.

If forecasts of larger crops materialise, Argentina's 2009-10 soy crush will rise to 33.2 million tonnes from 31.9 million tonnes and Brazil's soy crush to 31.4 million tonnes from 31.2 million tonnes, said Oil World.