January 12, 2005

 

 

Brazil Soybean Export For 2005-06 At 1.04 Million Tons

 

Brazil soybean export registrations for the 2005-06 marketing year (February-January) totaled just 1.04 million metric tons up to December 31, much lower than the 6.46 million tons registered at the same stage last year, according to Secex figures provided by the Brazilian Association of Vegetable Oil Industries, or Abiove, on Tuesday.

 

Forward sales of Brazilian soybeans have been slow this year as farmers reject low international prices.

 

Sales progressed little from the 850,000 tons registered by December 15.

 

Brazil will produce 61.5 million tons of soybeans this year, up 21% from the 50.8 million tons produced the year before, according to Abiove.

 

Exports are seen jumping to 22.5 million tons in 2005-06 from an estimated 19.2 million tons this year.

 

Soymeal registrations totaled 559,000 tons up to December 31, slightly ahead of the 418,000 tons seen 15 days before but much lower than the 1.49 million tons at the same point last year.

 

Exports of meal are expected to reach 16.2 million tons in 2005-06, up from 14.4 million tons this year, according to Abiove.

 

Soyoil registrations reached 48,000 tons last week, down from 228,000 tons booked for shipment at the same stage last year.

 

Soyoil exports are expected to reach 2.95 million tons in 2005-06, up from 2.55 million tons this year.

 

Registrations for the last crop edged up in the last 15 days. The figure for soybeans reached 22.11 million tons, up from 21.97 million tons registered on December 15 and higher than the 21.07 million tons registered at the same stage the previous year.

 

Registrations are actually higher than the Abiove forecast for 2004-05 soybean exports of 19.2 million tons, down from 19.99 million tons last year.

 

Soymeal registrations stood at 15.20 million tons up to December 31, up from 14.88 million tons on December 15 and just ahead of the 14.97 million tons registered for export at the same time last year.

 

Soyoil registrations rose to 3.07 million tons for the 2004-05 season, up from 2.54 million tons at the same stage last year.

 

Brazil is the world's No. 2 producer and exporter of soybeans.