USDA Boosts World Oilseeds Estimate

WASHINGTON - Apr 10/07 - SNS -- International oilseed production for 2006-07 is projected at a record 402.9 million metric tons (MT), up 3.7 million MT from last month, according to the latest projections from the USDA's World Agricultural Outlook Board.

Soybean production accounts for almost all of the change. Brazil soybean production is raised 1.8 million MT to a record 58.8 million MT based on higher yields, especially in southern states.

Soybean production is raised by a combined 2.3 million MT for Argentina and Paraguay. The Argentina crop is projected at a record 45.5 million MT, up 1.5 million MT from last month. Despite heavy rain that fell during the last week in March over much of the growing area, yields are projected record high at 2.88 MT per hectare.

Soybean production is also up sharply for Paraguay based on excellent yield prospects. Other changes include higher soybean production for Brazil for the 2005-06 crop. The crop is raised 2 million MT to 57 million MT reflecting reported crush and export data for the recently completed marketing year.

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