March 22, 2004

Brazil 2003-04 Soy Harvest 31% Complete
 
Brazil's bumper 2003-04 soybean harvest was 31% complete up to March 19, virtually on a par with last year's progress of 32% and the five-year average of 31%, Brazilian agricultural consultants Safras e Mercado said Friday.
 
"The week saw a more moderate advance of the Brazilian soybean harvest," said Flavio Franca Jr., Safras' soy analyst
 
He said the return of rains in the center-west and the south of the country was the main reason for the slower pace.
 
In the southern state of Parana, the No. 2 soy producer, 43% of the crop was now collected compared with 48% last week. Fieldwork is slightly faster than the five-year average of 40%.
 
Farmers in Mato Grosso, the top-producing state, had harvested 49% of their crop up till Friday, slightly ahead of last year's figure of 47%.
 
Safras estimates Brazil's soybean production at 56.6 million metric tons this season, up from 51.4 million tons last year.