Further Growth in Oilseed Supply
WASHINGTON - Jun 10/10 - SNS - Global oilseed production for 2010-11 is projected at 440.2 million metric tons (MT), up 0.3 million from last month, mainly due to higher peanut production, according to current supply and demand forecasts from the USDA's World Agricultural Outlook Board.
Chinas peanut production is raised 0.9 million MT to 14.8 million MT based on higher area and yield. EU-27 rapeseed production is reduced 0.5 million MT to 21 million mainly due to lower area resulting from flooding, especially in Poland, in May.
Other changes include increased soybean production for Ukraine, and reduced soybean production for China based on lower area. Brazil's 2009-10 soybean production is increased 1 million MT to a record 69 million reflecting increased harvested area and record yields.
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