Global oilseed production is expected to increase by 4.7% in 2013-14, with a boost from record soybean crops in Argentina, Brazil and the U.S., according to the U.S. Department of Agriculture. Meanwhile, continued dry conditions could reduce Australia's canola crop by 494,000 acres (about 200,000 hectares), while Russia's oilseed production could approach a record set in 2011, according to Oil World.

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