22/11/05    HAMBURG, (Reuters) - Soyoil stocks in the main exporting countries the U.S., Argentina and Brazil are likely to reach 1,487,000 tonnes on December 31, 2005, up a hefty 351,000 tonnes on the year, Hamburg-based oilseeds analysts Oil World forecasts.
   The increase is largely because of rises in the U.S. and Argentina caused by unusually high soybean crushings and high oil yields, it said.
   U.S. December 31, 2005, soyoil stocks are forecast to rise to 890,000 tonnes from 595,000 tonnes a year ago but would be down from 767,000 tonnes in September 2005, it said.
   Argentina's end December stocks are forecast rise to 207,000 tonnes from 171,000 tonnes in December 2004 but down from 360,000 tonnes in September 2005.
   Brazil's end December stocks are likely to rise only slightly on the year to 390,000 tonnes from 370,000 tonnes in December 2004, but would be down from 458,000 tonnes in September 2005.
   Stock development in exporting countries pays a key role in soyoil prices in the final quarter of the year but weakness caused by the year-on-year rise will probably be tempered by the decline in stocks between the third and fourth quarters of this year, Oil World said.