April 6, 2005
Abiove lowers Brazil 2004-05 soy view to 51.7 million tonnes
Brazilian soy 2004-05 production would total 51.7 million tonnes, according to Brazil's Vegetable Oil Industries Association, or Abiove.
The reduction in the crushers group forecast is the third in just over a month.
On March 2, it lowered its estimate to 58.3 million tonnes from 61.5 million tonnes, and on March 11, it lowered its estimate to 53.9 million tonnes
The new estimate is at the bottom end of the range of private analyst predictions released in the last month.
Abiove also lowered its soy export estimate to 20 million tonnes from the 21.3 million tonnes estimate issued a few weeks ago.
The soy export number was dropped to 13.7 million tonnes from 14.7 million tonnes issued last month.
The adjustments are due to the ongoing drought across the southern soy belt.
