. Agri-news. Agriculture. South American soybeans, carryovers and Canadian canola Export demand is one factor in favor of the canola market, but pressure from April onward is likely as South American oil becomes available and palm oil production rises says an Alberm Agriculture market analyst. "World oilseed production is forecast at a record 254 million tonnes in 1994-95," says Al Dooley, "The South American soybean crop is also estimated to hit record ; Brazil and Argentina produce about 30 percent of the world's soybeans. They export an average of 56 per cent of t
. Agri-news. Agriculture. South American soybeans, carryovers and Canadian canola Export demand is one factor in favor of the canola market, but pressure from April onward is likely as South American oil becomes available and palm oil production rises says an Alberm Agriculture market analyst. "World oilseed production is forecast at a record 254 million tonnes in 1994-95," says Al Dooley, "The South American soybean crop is also estimated to hit record ; Brazil and Argentina produce about 30 percent of the world's soybeans. They export an average of 56 per cent of the world soybean trade and 52 per cent of the world soyoil trade. "Obviously those figures show the South American soybean crop can have a huge effect on world oilseed trade," notes Dooley. "When their harvest ends in April and May, that production will pressure markets. "One positive in the market is demand. The demand for vegetable oil is very strong and has dominated the market for several months," he adds. "A continuation of recent good buyer demand should temper prices declines come ; Oilseed markets actually edged higher through February despite the huge 1994 soybean crop and the apparent record crop coming in South America. Canola prices were supported by slow fanner sales and good Japanese export activity. "Gains were fairly modest, but sales have been good," notes Dooley. Canada produced almost two million more tonnes of canola in 1994 than in 1993, however stocks on December 31 were very similar. Export statistics indicate canola exports were running almost 50 per cent ahead of last year's pace in mid-February. Domestic disappearance is also up 25 per cent from 1993-94. "This points to another year of tight carryover canola stocks," says Dooley. "Another factor is that fanners are expected to seed fewer canola acres this spring. Seedings will be down. The question is how ; Dooley estimate
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