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Tightening World Oilseed Crop
WASHINGTON - Jul 12/07 - SNS -- Global oilseed production for 2007-08 is reduced 3.2 million metric tons (MT) to 395.7 million MT, according to the latest forecasts from the USDA's World Agricultural Outlook Board.
Foreign production is projected up 0.6 million MT to 315.5 million MT. Rapeseed production is reduced for China based on lower harvested area. Rapeseed production is raised for the EU-27 due to increased harvested area. Other changes include increased cottonseed production for China.
Global oilseed production for 2006-07 is increased mainly due to a 700,000 MT increase in the Argentina soybean crop. The crop is estimated at a record 47.2 million MT based on higher yield indications.
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