Record World Oilseed Crop

WASHINGTON - Jan 12/06 - SNS -- Global oilseed production for 2005-06 is projected at a record 389.0 million metric tons (MT), up 2.0 million MT, according to updated supply and demand forecast released by the USDA's World Agricultural Outlook Board.

Foreign production is projected at 292.5 million MT, up 600,000 MT. Global sunflowerseed production is projected at 29.9 million MT, up 0.7 million MT from last month. Russia's sunflowerseed crop is raised 600,000 MT to 6.4 million MT due to higher yields.

Other oilseed production changes include a increased rapeseed production for India and DU-25, and reduced palm oil production for Malaysia. Brazil soybean production for 2004-05 is raised 2 million MT to 53 million MT, a record despite drought in southern Brazil.

U.S. oilseed production for 2005-06 is estimated at 96.4 million MT, up 1.4 million MT from last month, and up 0.5 million MT from last year. Although soybean production accounts for most of the increase, sunflowerseed, canola, cottonseed, and peanut production are also higher.

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