April 6, 2004

Brazil 2003-04 Soy Harvest 57% Complete

Brazil's 2003-04 soybean harvest was 57% complete up to April 2, ahead of the 48% collected at the same point last year and the 51% harvested in the last five years, according to the local Celeres agricultural consultancy.
 
Dry weather across practically the whole of Brazil's producing region aided fieldwork in the last seven days, especially in the south of the country, said a weekly report.
 
Last week, some 43% of the crop was harvested.
 
The harvest remains most advanced in the center west where 83% of the crop has been harvested compared with 68% at the same time last year.
 
In the south of the country, some 39% of the crop had been collected up to Friday, compared with 37% last year.
 
According to the report, farmers had sold 59% of their crop up till Friday, compared with 43% last year and a five-year average of 53%.
 
The report said Brazilian farmers remained reticent about selling soy, despite record prices, because losses to crops keep mounting and prices remain volatile.
 
Many producers in weather-hit regions are struggling to fulfill contracts closed in August and September, said Celeres.