Australian Oilseeds Federation - Crop Report February 2006 (excerpts)

Sunflowers 2005/06

Our estimates have been revised down by around 10% on last month due to estimates for the late plant in Central Queensland being scaled back. This is a result of low prices and continuing dry conditions. There is still a few weeks of the planting window remaining and changes to either the price or season outlook would enable an
increase in plantings.

Despite this, the crop is estimated to produce close to 100,000 tonnes which is up considerably on previous
years. The crop is estimated to be 80% mono, 15% poly and 5% confectionary/ birdseed.

The early crop harvest is pretty much complete in northern NSW. As reported last month, extreme heat and lack of rain during flowering and grain fill, impacted yields and quality. Test weight and oil contents have generally been disappointing with oil for mono’s averaging around 36%.

There were some delays to harvesting in the Moree area due to significant storm rain during January. There is a small amount of late crop planted in this region, estimated at around 1000 hectares.

Harvest is underway on the Liverpool Plains, with harvest expected to drag out for some time due to the wet planting conditions experienced last spring that spread sowing over a number of weeks. The crop has been impacted by the hot conditions and also the high Rutherglen bug pressure.

The majority of late crop on the Liverpool Plains was sown late December/ early January and is between 8-10 leaf stage and bud initiation, although a small amount is flowering. The latest sown (irrigated) crops are just emerging out of the ground. Rutherglen pressure appears to have lessened. However, it has generally been very dry and the late crop will need significant in crop rain to secure average or better yields.

Soybeans 2005/06

The 2005/06 crop has been revised up by 15% on the previous months planting intentions.

The crops in north Queensland are progressing quite well and there has been good rainfall on the coastal regions. However, the Lockyer and Fassifern valleys continue to experience dry conditions. Plantings were better than expected on the Downs and crops are in good condition.

The area planted has been revised upwards on the North Coast of NSW, however, some crops have gone in late
due to the delayed sugar harvest. There may be some upside yield potential in this region. There has been little
change in other regions of NSW and Victoria.

Cottonseed 2005/06

The cotton crop is forecast to be 2.5 million bales, although there may be some upside potential. This should see
cottonseed production at 760-800,000 tonnes.