Modest Drop in World Oilseed Harvest

WASHINGTON - Jun 9/06 - SNS -- Global oilseed production for 2006-07 is projected at 389.4 million metric tons (MT), down 700,000 MT from 2005-06 and down 600,000 MT from last month, according to the latest supply and demand outlook report from the USDA's World Agricultural Outlook Board.

Foreign oilseed production is projected at 294.7 million MT, up 0.8 million MT from 2005-06. Global soybean production is projected to increase 1.9 million MT to a record 222 million MT. Higher yields in Brazil and increased area for Argentina will help push South American production to a record 105 million MT, up 3 million from 2005-06.

The Brazilian crop is projected at 56 million MT, up only slightly from a revised estimate of 55.7 million MT for 2005-06 as higher yields mostly offset reduced harvested area. Argentina soybean production is projected at a record 41.3 million MT due to increased area.

Global production of high-oil content seed is down 4% due to lower rapeseed and sunflowerseed production. Rapeseed production is projected lower for Canada and India, and production for DU-25 and China are projected almost unchanged from 2005-06. Sunflowerseed production is lower for 2006-07 mainly due to reduced crop prospects for Russia and Ukraine.

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