Continued Expansion in World Oilseed Numbers

WASHINGTON - Apr 9/08 - SNS -- Global oilseed production for 2007-08 is projected at 390.8 million metric tons (MT), up 0.7 million MT from last month, according to the latest supply and demand update from the USDA's World Agricultural Outlook Board.

Increases for soybeans in Iran, sunflowerseed in Turkey, and cottonseed in India account for most of the global increase. Soybean production estimates for South America are unchanged.

Global 2007-08 oilseed ending stocks are raised 2 million MT to 57.2 million due mostly to higher soybean stocks in the United States, Brazil, and Argentina. Brazil's stocks are raised due to lower crush and soybean export prospects. Higher soybean stocks in Argentina reflect reduced crush resulting from lower projected soybean meal exports.

U.S. soybean exports for 2007-08 are increased 50 million bushels to 1,075 million this month reflecting strong year-to-date shipments. Despite record high soybean prices, exports have remained strong, especially to China, where imports from the United States are likely to exceed the 2004-05 record.

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