USDA Boosts World Oilseed Numbers

WASHINGTON - Aug 11/06 - SNS -- Global oilseed production for 2006-07 is projected at 383.2 million metric tons (MT), down 3.5 million MT from last month, and down 6.5 million MT from 2005-06, according to the latest supply and demand outlook developed by the USDA's World Agricultural Outlook Board.

Reduced U.S. oilseed production accounts for most of the decline. This would be the first year-to-year production decline since 1995-96. Foreign oilseed production is projected at 294 million MT, down 0.9 million MT from last month. Soybean production is reduced for China based on lower harvested area.

Rapeseed production is reduced due to lower yields in both China and DU-25. Other changes include increased sunflowerseed production in Russia, reduced peanut production in China, and increased cottonseed production in India. Global production of high oil-content seeds (sunflowerseed and rapeseed) is projected to decline 4% from 2005-06.

U.S. changes for 2005-06 include higher soybean exports and crush. Exports are raised 25 million bushels, reflecting seasonally strong exports, particularly to Taiwan. Crush is raised 5 million bushels based on higher projected meal exports.

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