February 23, 2012

Analysts Celeres said on Wednesday (Feb 22) that of the total expected production of 72 million tonnes, Brazil's 2011/12 soy crop sales rose to 53%, up from 51% a week earlier.

Harvest is picking up across the main centre-west and southern soy belts, where rain has been less than optimal this year and will keep the world's No. two soy producer from surpassing last year's record harvest.

Celeres said harvest has reached 19% of the crop area by February 17, up from 11% in the week prior. Last year at this time, 14% of the crop had been collected. The No. one soy state Mato Grosso, No. two soy state Parana and No. four soy state Goias were the most advanced in harvest.

All the main growing states in the south and centre-west are due to see heavy rains later this week as a cold front enters Brazil from Argentina. The rain should help crops in the parched growing areas in the southern Brazilian states of Rio Grande do Sul, Parana and Mato Grosso do Sul.

If heavy showers materialise over the centre-west growing states this week, field work will slow there where harvesting is about to peak.

Brazil is the world's second biggest soy producer after the US and is expected to surpass it to become the largest exporter of the oilseed this year for the first time since 2005/06.