Larger Global Oilseed Harvest

WASHINGTON - Mar 9/07 - SNS -- Global oilseed production for 2006-07 is projected at 399.1 million metric tons (MT), up 2.0 million MT from last month, according to the latest USDA supply and demand updates from the World Agricultural Outlook Board.

Foreign production accounts for all of the change. Increases for soybeans, rapeseed, peanuts, and copra are partly offset by a small reduction for sunflowerseed.

Global soybean production is projected at a record 229.4 million MT, up 1.0 million MT from last month. Brazil production is raised 1.0 million MT to a record 57.0 million MT.

Growing conditions have been exceptionally good this season, especially in the southern states, which were affected by drought during each of the past three seasons.

Other production changes include increased rapeseed for Australia, increased rapeseed and peanuts for China, and reduced sunflowerseed for DU-25.

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