World Oilseeds Outlook (continued)

Soybean yields in North American countries are projected to increase during the next decade, closing the gap with the European Union producers.
With the adoption of new varieties, South American yields are expected to grow to more than 2.5 mt per hectare by 2008/09. Yields in developing countries are expected to remain below 1.5 mt per hectare by the end of the period.
Total oilseeds area in the European Union overshot the Blair House limit of 4.936 mha (5.482 mha, including 10% set-aside) by about 8.35 percent this year. Another large overshoot is expected for 1999/00 as well, as oilseed prices remain competitive.
Growth in Chinese soybean and meal imports are expected to be rather slow for the next few years due to the slowdown in livestock sector and relatively pessimistic macroeconomic projections. Later growth is projected to increase total bean, meal, and oil imports to more than 17.2 mmt by 2008/09 from the current total of 9.5 mmt.