Breaking News-RTRS-Oil World sees ample global soybean supplies

HAMBURG, Sept 21 (Reuters) - Global soybean supplies in the new 2010/11 season are likely to be ample with a smaller crop still exceeding consumption and weaker prices likely, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Oil World has raised its forecast of the global 2010/11 soybean crop by 1.7 million tonnes from its previous August estimate to 258.92 million tonnes, above forecast global consumption of 256.40 million tonnes.
This would still be down from last year's record crop of 260.64 million tonnes while consumption will grow from 237.8 million tonnes last season.