Australian Canola Report Looks Gloomy

I was getting ready for the fall canola seed marketing season and "googled up" the Australian oilseed crop report. My dad always said something had to go bad for another part of the world for farmers here to gain. I read this poor crop report as abull for the canola/oilseed market?
http://www.australianoilseeds.com/__data/page/35/AOF_Crop_Report_Aug_06.pdf