ABSTRACT
A probable slowing in US and world meal consumption and oilseed growth rates in the decade ahead point to marginally tighter supply-use balances for vegetable oils in spite of continued good gains in world palm oil output. More rapid growth in internal consumption by some countries that are key producers of soybeans and other competing oilseeds and porducts is also an important development shaping the future for US soybeans and other oilseeds. Soybeans are expected to account for most of this year’s increase in oilseed production rising to a forecasted 93 million tons. For the other oilseeds rest-of-the-world supply-use deficits will likely remain quite small showing only slight gains in the decade ahead. The larger concern for the US soybean industry is the slowdown in some traditional, developed-country markets, with most future growth likely to be concentrated in developing, importing countries and perhaps some centrally planned economies.
