March 13, 2006

Brazil's 2005/06 soy crop 25 percent harvested

Roughly 25 percent of Brazil's 2005/06 soy crop has been harvested as of Wednesday, private brokerage firm Cerealpar Corretora de Cereais of Parana state  reported on Friday.

Top producer Mato Grosso state is currently harvesting an estimated 16.4 million tonnes of crop. Later this month, no. 2 producer Parana will start harvesting soybeans as well. The harvest goes into full force in April and ends in May.

Cerealpar lowered its 2005/06 crop estimate to 57 million tonnes Thursday, down from 57.6 million tonnes forecast in October.

Brazil is the second largest soy producer, following the US.