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OIL WORLD SEES LARGER U.S. SOY CROP

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The U.S. 2010/11 soybean crop is likely to rise to 92.3 million tonnes, up from 91.42 million tonnes in 2009/10, Hamburg-based oilseeds analysts Oil World forecast July 13.This was above the USDA estimate on July 9 of 91.04 million tonnes. But the global 2010/11 soybean crop is forecast by Oil World to fall to 255.79 million tonnes from 260.97 million tonnes in 2009/10 partly because of an expected fall in South American crops. Argentina’s 2010/11 soybean crop is forecast to fall to 51.0 million tonnes from 55.0 million tonnes in 2009/10 and Brazil’s to 66.50 million tonnes from 68.71 million tonnes. “Argentine soybean plantings for the crop of early 2011 are likely to decline as some acreages will be shifted to wheat and sunflower seed,” it said.

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