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World Oilseed Crop Estimates Lifted
WASHINGTON - Mar 10/06 - SNS -- Global oilseed production for 2005-06 is projected at a record 393.0 million metric tons (MT), up 3.7 million MT from last month and 12.7 million MT above 2004-05, believes the USDA's World Agricultural Outlook Board.
Global soybean production is raised 1.4 million MT due mostly to higher production for China. China soybean production is raised 1.3 million MT to 18.3 million MT based on increased area and yield.
Global rapeseed production is increased mainly due to a higher production estimate for China. Other changes this month include higher palm oil production for Indonesia, which is partially offset by reduced production for Malaysia.
Global oilseed stocks are raised this month as increased production is only partially offset by increased oilseed crush. Global vegetable oil stocks are also projected higher mainly due to increased soybean oil stocks in the United States.
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