First Drop In World Oilseed Crop in Decade

WASHINGTON - Jun 11/07 - SNS -- Global oilseed production for 2007-08 is projected at 399 million metric tons (MT), down 5.4 million MT from 2006-07, according to the latest supply and demand outlooks estimates from the USDA's World Agricultural Outlook Board.

If realized, this would be the first year-to-year decline in global oilseed production since 1995-96. Foreign oilseed production is projected at 315 million MT, up 7 million MT from 2006-07.

Global soybean production is projected to decrease 10 million MT to 225 million MT. Most of the reduction is due to lower production prospects in the United States as producers reduced planted area sharply from 2006-07.

Higher soybean production is projected for both Brazil and Argentina as increased area in both countries more than offsets reduced yields. Higher area is projected for Argentina despite increased corn planting as producers increase second crop soybean production and continue to expand plantings on to pasture land.

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