March 29, 2007

Brazil's 2006/07 soy crop 55 percent harvested

Brazil's 2006/07 soy crop is 55 percent harvested as of March 27, consulting firm AgRural said Wednesday (Mar 28).

Last week, 48 percent of the crop was harvested and last year at this time, some 52 percent of the 2005/06 crop was harvested.

Good weather conditions have sped up the harvest this past week in Maranhao in the northeast, and in Minas Gerais in the southeast, AgRural said in its report.

Top soy producing state Mato Grosso is nearly done harvesting, with 93 percent of the soy out of the ground as of March 27.

The no. 2 producer, Parana, is 70 percent harvested compared with 62 percent last week and the no. 3 producer, Rio Grande do Sul, is 7 percent harvested, compared with 4 percent last week.

AgRural estimates Brazil's 2006/07 soy crop at 57.4 million tonnes.

Brazil is the no. 2 soy producer behind the US.