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Continued Gains in Oilseeds Creop Forecast
WASHINGTON - Sep 12/08 - SNS -- Global oilseed production for 2008-09 is projected at 417.8 million metric tons (MT), up 1.7 million from last month, according to the latest forecast from the USDA's World Agricultural Outlook Board.
Foreign production is up 2.6 million MT to 329.6 million. Global soybean production is projected at a record 238 million MT, up 9% from 2007-08. Argentina soybean production is raised to a record 50.5 million MT based on higher expected area. China soybean production is raised 0.5 million MT to 16.5 million based on increased yields.
Global rapeseed production is raised 1.2 million MT to 53.4 million, an 11% increase over 2007-08. Rapeseed crops are projected higher for Canada, EU-27, and Belarus. Other changes include increased peanut production for China and reduced cottonseed production for Pakistan.
Global oilseed stocks for 2008-09 are raised 3 million MT to 60.4 million primarily due to increased rapeseed stocks in Canada and increased soybean stocks in South America and China. China soybean imports for 2007-08 are raised to a record 36.5 million MT.
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