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* The USDA has revised its global oilseed production estimate for 2024-25, lowering it to 680.35 million tonnes from the previous 683.38 million tonnes, primarily due to reduced soybean, peanut, and rapeseed output. The US soybean production forecast has been cut by 95 million bushels, with notable declines in several states, while production in other countries is slightly lower, mainly due to reduced rapeseed and soybean output in Russia, China and India. Global soybean crushing is projected to rise by 1.9 million tonnes, with higher exports from Brazil and Iraq contributing to this increase. The US soybean price remains unchanged, but soybean meal prices have risen, reflecting higher demand from the EU and South Asia.

* Rabi sowing across the country as of Jan. 3 was 62.3 million hectares, up just 0.2% from last year, according to data from the Department of Agriculture and Farmers Welfare. The area under wheat, the main rabi crop, was up 1.7% on year at 32.0 million hectares, according to the data. The area under rabi paddy was up nearly 1% on year at 1.69 million hectares. Maize acreage rose nearly 8.4% on year to 2.2 million hectares. Above-normal rainfall during the southwest monsoon led to higher moisture content in the soil, which aided sowing of rabi crops. The country received 8% above normal rainfall at 934.8 mm in the southwest monsoon, according to the India Meteorological Department. The area under pulses was 13.72 million hectares, up 0.8% from 13.60 million hectares a year ago, the data showed. Among pulses, the acreage of chana was 9.45 million hectares, up 1.4% from a year ago. Chana is the main legume grown during the rabi season. Masur acreage was down nearly 2% at 1.74 million hectares. The area under oilseeds is down 4.8% on year at 9.7 million hectares. Mustard acreage was 8.9 million hectares, down 5.6% from a year ago. The area under groundnut was up 6.7% to 365,000 hectares while the area under sunflower was up 98.6% at 74,000 hectares.

* The US Department of Agriculture has raised its estimate for global cotton production for 2024-25 (Oct-Sept) by over 2 million bales (1 bale = 217.72 kg) to 119.4 million bales, from its estimate of 117.39 million bales last month, it said in a report. The increase can be attributed largely to a 1.8-million-bale increase in crop from China. Larger crops are also projected in Australia and the US, while production in Pakistan is said to fall, according to the department. The forecast for global exports of cotton was raised by 225,000 bales, due to an increase in shipment from Brazil, Australia, and India, despite some fall in exports from the US, the report said. The forecast for global ending stocks of cotton for January has been raised by almost 1.9 million bales to 77.91 million bales as an increase in stock in China, the US, Australia, and India more than offset the reduction in Brazil. The estimate for opening stocks was steady at 74.16 million bales, the report showed. According to the 2024-25 cotton balance sheet, the estimated total imports have been increased to 42.45 million bales. Global exports are estimated at 42.48 million bales, up from 42.26 million bales last month, according to the report. Estimates for India's imports of cotton were raised to 2.6 million bales from 2.3 million bales during the previous month, and exports were up at 1.4 million bales from 1.3 million bales last month, according to the report. In the US, estimates for production and ending stocks have been increased and those for exports reduced, while estimates for domestic use and beginning stocks were unchanged, the report said. The US cotton production is revised upward by 159,000 bales to 14.4 million bales as the national cotton yield estimate is raised 44 pounds to 836 pounds per harvested acre, reflecting a larger crop and lower harvested area, it said. Most of the reduction in harvested area occurred in the southwest, while yields in numerous southeast, delta, and southwest states are expected to be higher. Projected exports are lowered by 300,000 bales to 11.0 million. Ending stocks are raised to 4.8 million bales for a stocks-to-use ratio of about 38%. The 2024-25 season average upland farm price is reduced to 65 cents per pound, according to the report. The estimate for production in India was steady at 25 million bales. The production estimate for Brazil was also steady at 16.90 million bales in January.

* India's soymeal exports rose 1.1% on year to 277,000 tonnes in December from 274,000 tonnes a year ago, the Soybean Processors Association of India said in a release on Monday. However, soymeal exports in Oct-Dec fell to 518,000 tonnes from 659,000 tonnes a year ago, SOPA said. India exported soymeal to more than 40 countries from October to December, with Afghanistan, Bangladesh, Iran, Kenya, Nepal, Sri Lanka, Uzbekistan and Vietnam being the major buyers, according to data released by the association. Production of soymeal in December fell to 868,000 tonnes from 947,000 tonnes a year ago. The output in Oct-Dec fell to 2.41 million tonnes from 2.80 million tonnes a year ago, the association said. Soybean, a kharif oilseed, is sown in Jun-Jul and harvested in Oct-Nov.Soybean arrivals in spot markets were at 1.2 million tonnes in December, unchanged from a year ago. During Oct-Dec, arrivals fell to 4.6 million tonnes from 5.2 million tonnes a year ago. Global soybean meal output in 2024-25 is estimated slightly higher at 274.1 million tonnes from 272.5 million tonnes estimated earlier, according to the US Department of Agriculture report released on Monday. The US department has estimated India's soybean meal production in 2024-25 at 880,000 tonnes, compared with 904,000 tonnes a year ago. India is one of the largest importers of soyoil and an exporter of soybean meal. "Domestic demand for soymeal has declined, with the poultry industry shifting a significant portion of demand to distiller's dried grains with solubles, which is more cost-effective, thereby putting additional downward pressure on soybean prices," Indrajit Paul, head of research of Agrocorp International, said. Distiller's dried grains with solubles consist of undigested grain components resulting from grain ethanol fermentation. It is used as a feed ingredient substitute due to its high nutritional content and low production cost. At the end of December, oil mills, traders, and farmers are left with around 8.9 million tonnes of soybean stock, down from 10.1 million tonnes a month ago, the association said. The meal stock at the end of December was 112,000 tonnes, against 131,000 tonnes a month ago. Soymeal is a by-product of the extraction of soybean oil which is primarily used as poultry and livestock feed. Indian soymeal is non-genetically modified and considered rich in protein.

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