1、 THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.GOVERNMENT POLICY Required Report:Required-Public Distribution Date:November 06,2024 Report Number:CH2024-0140 Report Name:Oilseeds and Products Update Country:China-Peop
2、les Republic of Post:Beijing Report Category:Oilseeds and Products Prepared By:FAS China Staff Approved By:Adam Branson Report Highlights:Soybean production for MY 24/25 is forecast slightly up at 19.9 million metric tons(MMT)based on higher yield and a planted area of 9.95 million hectares(Mha).The
3、re were no significant adverse weather events reported in the Northeast region as of mid-October.Post raised its forecast for MY 24/25 peanut production to 18.4 MMT from the previous reports 18.1 MMT on higher yields.Production Soybeans Soybean production for MY 24/25 is forecast slightly up at 19.9
4、 million metric tons(MMT)based on higher yield and a planted area of 9.95 million hectares(Mha)(see more in Oilseeds and Products Update CH2024-0077).Despite a smaller planted area,higher yields will produce a larger soybean crop in MY 24/25 than in MY 23/24.Low soybean prices and profits due to an
5、oversupply of soybeans for both food use and crushing in MY 23/24 led to the moderate area decline in MY 24/25,despite the Peoples Republic of Chinas(PRC)continued efforts in subsidizing soybean planting.Both the PRCs central and local governments maintained its support policies on soybeans in MY 24
6、/25(See more in Oilseeds and Products Updates CH2024-0077 and Oilseeds and Products Updates CH2024-0116).Chinese sources continue to vary on soybean production forecasts for MY 24/25(see Table 1 and Oilseeds and Products Updates CH2024-0116 for more information).In the 2024 China Soybean Industry Co