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USDA Boosts Global Oilseed Estimate
WASHINGTON - Dec 11/06 - SNS -- Global oilseed production for 2006-07 is projected at 395.5 million metric tons (MT), up 3 million MT from last month, according to the latest USDA World Agricultural Outlook Board forecasts.
Foreign oilseed production accounts for most of the change with increases for soybeans, rapeseed, and sunflowerseed more than offsetting reductions for cottonseed. Argentina soybean production is increased 0.7 million MT to a record 42 million MT based on increased area as producers respond to higher prices.
Canadian rapeseed production is raised 0.6 million MT to a record 9.1 million MT, based on the latest survey results from Statistics Canada. Canada's soybean crop is also increased this month based on the survey. Ukraine sunflowerseed production is increased to 5.0 million MT due to higher yields.
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