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Little Change in Oilseed Balance
WASHINGTON - Sep 12/07 - SNS -- Global oilseed production for 2007-08 is projected at 390.9 million metric tons (MT), down 400,000 from last month, according to the latest forecasts by the USDA's World Agricultural Outlook Board.
U.S. oilseed production is forecast at 80.2 million MT, down fractionally from last month. Foreign production is down 0.4 million MT to 310.7 million MT. Sunflowerseed production is lowered for China, EU-27, and Turkey. Higher production in Argentina partly offsets these reductions. Other foreign changes include reduced peanut production for China, reduced soybean production and increased rapeseed production for Canada, and increased cottonseed production for Brazil.
Global oilseed stocks for 2007-08 are raised 0.1 million MT to 57.8 million MT as increased rapeseed stocks in Canada and sunflowerseed stocks in Argentina are mostly offset by reduced soybean stocks in Brazil.
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