February 3, 2009
Brazil farmers sold 30 percent of new 2008-09 soy crop
Brazilian farmers sold 30 percent of the new 2008-09 soy crop by January 30, Brazilian agribusiness consultancy Cerealpar said Monday (February 2). Cerealpar said Brazilian sales compared to 50 percent at the same time in 2008 and a five-year average of 40 percent.
Mato Grosso, Brazil's No. 1 soy-producing state, has sold 40 percent of its soy, while Parana, the No. 2 producer, has sold 20 percent, according to Cerealpar.
Farmers have been encouraged to sell their beans due to improving soy prices in the last 60 days, Cerealpar said.
Mato Grosso, in the centre-west soy belt, has seen the most soy trade in recent weeks due to the availability of soy from the early harvest. Mato Grosso is traditionally the first state to harvest.
Cerealpar estimates that the total soy production for 2008-09 will be 57 million tonnes.
Brazil is the No. 2 soy producer, behind the US.
