March 20, 2012

Brazil's 2011-12 soy harvest reaches peak, corn to pick up

Local grains consultancy Celeres said Monday (Mar 19) that Brazil's 2011-12 soy harvest has peaked and continues to advance steadily while the summer corn harvest should pick up in coming weeks.

As of Friday (Mar 16), 58% of Brazil's 2011-12 soy crop had been harvested, Celeres said in a weekly report. That compares with 49% in the previous week and an average of 41% for this time of year.

Sales of the current soy crop rose modestly, reaching to 62% of the crop from 59% in the previous week.

Harvesting of Brazil's summer corn crop had taken place in 38% of the country's planted acreage, up from almost 31% in the previous week.

"With the advance of the soy harvest, harvesting of corn should tend to pick up in the coming weeks," Celeres said, noting that corn, once it's ready for harvesting, can remain in the fields longer than soy.

Planting of Brazil's smaller winter corn crop is 84% complete, up 10% from a week earlier, Celeres added.