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USDA Sees Smaller World Oilseed Crop
WASHINGTON - Aug 10/07 - SNS -- Global oilseed production for 2007-08 is projected at 391.3 million metric tons (MT), down 4.4 million MT from last month, and down 13.7 million MT from 2006-07, according to the latest supply and demand outlook from the USDA's World Agricultural Outlook Board.
Foreign production is reduced 4.4 million MT from last month. Soybean production for China is projected at 15.2 million MT, down 0.4 million due to dry weather in the northeastern producing area.
Rapeseed production is reduced for Canada and EU-27. Hot, dry weather in Canada and wet harvest weather in EU-27 have reduced yield prospects. Crop projections for both remain above last year's levels due to sharply higher planted area.
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