Modest Dip in Australian Oilseeds

SYDNEY - Jun 12/06 - SNS -- The Australian Oilseeds Federation is looking for a modest decrease in oilseed production in the 2006-07 season, with projected gains in soybeans more than offset by declines in canola output.

Canola production is forecast at 1,399,500 metric tons (MT) from 955,000 hectares, down from 1,438,750 MT in 2005-06. Soybean output is forecast at 56,300 MT from 23,590 hectares, up from 54,350 MT in 2005-07.

The federation said the 2005-06 soybean harvest is now complete. "Final production is . . . disappointing. However, there were some positives from the season. Soybeans performed will in the sugar cane areas and this is expected to be a area of continued growth."

Discussing canola, the oilseeds federation said, "After early expectations that this year would see a good general break, the dry conditions in NSW and other parts of the country have seen planting intentions overalls revised downwards by around 5%. While it is still very early to be estimating yields, we have reduced production estimates by 10%. The next couple of weeks will be critical for the canola crop, with good general rain needed."

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