Record Global Oilseed Harvest Pending

WASHINGTON - Jul 9/10 - SNS -- Global oilseed production for 2010-11 is increased 0.5 million metric tons (MT) to a record 440.7 million MT, according to the latest forecast from the USDA's World Agricultural Outlook Board.

Foreign oilseed production is projected down 1.2 million MT to 340 million mostly due to lower rapeseed production. Global soybean production is projected at a record 251.3 million MT, up 1.4 million due mostly to higher production in the United States.

Soybean production is also raised for Canada based on higher planted area reported by Statistics Canada. Rapeseed production is sharply reduced for Canada due to lower harvested area. Despite a record planted area estimate reported by Statistics Canada based on producer surveys conducted in late May and early June, significant crop area in the provinces of Saskatchewan and Manitoba did not get planted due to excessive rainfall through late June. As a result, the Canada rapeseed crop is projected at 10.2 million MT, down 1.8 million from last month.

Other changes include reduced rapeseed production for China and EU-27 and increased cottonseed production for the United States, Brazil, and Uzbekistan.