# USDA improved the forecast for Ukrainian sunflower oil

> USDA's October report raised its 2023/24 forecast for Ukrainian sunflower oil production to 6.02 million tonnes and exports to 5.6 million tonnes. Sunflower meal production was raised to 5.78 million tonnes and exports to 4.65 million tonnes. Sunseed output is still seen at 14 million tonnes.

- Date: 2023-10-16 · published 2023-10-16T12:00:00.000Z
- Category: report · region Ukraine · magnitude low
- Page: https://feedsoft.ai/events/33751-usda-improved-the-forecast-for-ukrainian-sunflower-oil
- Commodities: [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher Ukrainian meal and oil supply forecasts add to global supply, which is mildly bearish for sunflower meal and oil prices.

## Read by commodity

- SBO: bearish ▼
- SUNMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-02-13 | [USDA raised the forecast for Ukrainian sunflower oil](https://feedsoft.ai/events/37435-usda-raised-the-forecast-for-ukrainian-sunflower-oil.md) | +1.7% | -1.8% |
| SBO | 2017-05-15 | [USDA: Sunflower oil production in Ukraine will reach 5.63 mln. tonnes in the current season](https://feedsoft.ai/events/71118-usda-sunflower-oil-production-in-ukraine-will-reach-5-63-mln-tonnes-in-the.md) | +1.3% | -2.1% |
| SBO | 2024-04-01 | [The Grain Council raised the forecast for the world sunflower harvest by 600 thousand tons](https://feedsoft.ai/events/30847-the-grain-council-raised-the-forecast-for-the-world-sunflower-harvest-by-600.md) | +0.2% | -5.4% |
| SBO | 2022-09-12 | [USDA lowers forecast for soybean oil use in biofuel production  \| Biomass Magazine](https://feedsoft.ai/events/39665-usda-lowers-forecast-for-soybean-oil-use-in-biofuel-production-biomass-magazine.md) | +0.3% | -6.6% |
| SBO | 2021-08-12 | [USDA lowers forecasts for soybean oil use in biofuel  \| Biodiesel Magazine](https://feedsoft.ai/events/45445-usda-lowers-forecasts-for-soybean-oil-use-in-biofuel-biodiesel-magazine.md) | -2.3% | -9.7% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/usda-improved-the-forecast-for-ukrainian-sunflower-oil/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.