March 13, 2012

Brazil's 2011/12 soy crop sales up 59%

Of the total expected production of 69.8 million tonnes, Brazil's 2011/12 soy crop sales rose to 59%, up from 57% a week earlier, analysts Celeres said on Monday (Mar 12).

Harvest is now peaking 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 reached 49% of the crop area by March 9, up from 38% in the week prior. Last year at this time, 30% 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.

The south is due to stay dry this week, which should help the harvest but not parched crops that are still developing. Centre-west producers are due to see increased moisture through next week which could slow harvest work.

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.

The table below details the progress of soy crop sales and harvest in the top four producer states and in Brazil overall.