World Oilseed Supplies Rise

WASHINGTON - Sep 12/06 - SNS -- Oilseed production appears to be rising faster than demand, with the result next year's ending stocks will significantly greater than thought, according to the latest report from the USDA's World Agricultural Outlook Board.

Global oilseed production for 2006-07 is projected at 386.5 million metric tons (MT), up 3.3 million MT from last month. U.S. oilseed production is forecast at 93.6 million MT, up 4.4 million from last month. Foreign production is down 1.1 million MT to 292.9 million, unchanged from last year.

Most of the change in foreign production is due to reduced peanut production for India, where sown area was reduced mainly by the effects of excessive early-season moisture. Soybean production is reduced for China based on lower yield prospects.

Lower cottonseed production for India, Pakistan, Australia, and Brazil is partly offset by an increase for China. Other foreign changes include increased rapeseed production for EU-25, partly offset by a reduction for Canada, based on recent government survey results. Sunflowerseed production is raised for Romania, Bulgaria, and China and reduced for Russia.

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