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Situation and Outlook - January 2002
The world oilseed production forecast for 2001/02 was up 403,000 tons to 323.4 million tons this month. Increased cottonseed and soybean production offset a reduced rapeseed production forecast. U.S. oilseed production for 2001/02 is projected to reach a record 89.9 million tons, down 1.0 million tons from last month, but up 5 million tons from 2000/01. Soybean production, down 880,000 tons to 78.7 million tons account for most of the decline. Lower rapeseed and sunflowerseed production accounted for the remaining reduction. Brazil’s soybean production forecast was increased 1.0 million tons to 42.5 million tons based on grower planting intentions and slight upward revisions in regional soybean yields. Forecast cottonseed production was also increased this month. Increases in China, Egypt, and Uzbekistan helped push cottonseed production to 36.6 million tons, up 167,000 tons from last month.
U.S. soybean exports are forecast to reach 27.5 million tons, up 272,000 tons from last month despite increased export availabilities from South America, as strong demand in the Middle East and Indonesia boosts global import demand. Brazil’s export forecast was increased 500,000 tons to 18 million tons, more than offsetting a 250,000-ton decline in forecast exports from Argentina for 2001/02. World soybean crush for 2001/02 was increased 580,000 tons this month to 156.7 million tons with increases in the EU, the Middle East, Indonesia, and the United States. U.S. soybean crush was increased 136,000 tons based on improved soybean meal export prospects, mainly in Indonesia, Canada, the Middle East and Russia.
World vegetable oil production was nearly unchanged this month as small increases in cottonseed, peanut, and soybean oil offset reduced sunflowerseed oil. U.S. soybean oil production is reduced slightly this month despite the increase in crush due to a lower extraction rate. Expected U.S. soybean oil stocks for 2001/02 are also slightly lower this month.
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Foreign Developments
For additional information pertaining to the summary above and other noteworthy developments within the oilseeds complex see the reports below. All reports are in Adobe Acrobat format (.pdf) unless otherwise noted. These reports, along with others, may also be obtained in both Adobe Acrobat (.pdf) and WordPerfect format (.wpd) by going directly to the Attaché Report section of the FAS homepage at http://www.fas.usda.gov/
Jan 10 2002 | Taiwan | Oilseeds and Products Annual
Jan 8 2002 | India | Oilseeds & Products Update - January 2002
Jan 3 2002 | Brazil | Oilseeds and Products Update Report
Dec 31 2001 | Norway | Oilseeds and Products Annual
Dec 18 2001 | Philippines | Philippine Palm Oil Industry
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