MUMBAI (Commodity Online): The U.S. Department of Agriculture has revised its 2009-10 global oil seed production forecast to 435.3 million tons, up 1.6 million tons from last month.

Higher projections for soybeans, peanuts, rapeseed, and palm kernel are only partly offset by lower cottonseed and sunflower seed production.

Global soybean production is raised 0.9 million tons to 255.9 million. Soybean production for Brazil is projected at a record 67 million tons, up 1 million from last month based on higher yields and harvested area. Soybean production for Paraguay is reduced due to lower harvested area.



Global cottonseed production is reduced mostly due to reductions for China and Uzbekistan. Other changes include increased rapeseed production for Australia, increased peanut and sunflower seed production for China, increased palm kernel production for Indonesia, and reduced sunflower seed production for South Africa. Palm oil production was increased for Indonesia for both 2008/09 and 2009/10.

Global oilseed ending stocks for 2009/10 are projected at71.8 million tons, up 0.9 million from last month. Soybeans account for most of the change with increases for Argentina, Brazil, and India only partly offset by lower projected U.S. stocks.

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