April 10, 2007

Brazil's IBGE raises 2006/07 soy estimate 0.3 percent to 56.9 million tonnes

Brazil's Census Bureau, or IBGE, raised its monthly forecast for the 2006/07 soy crop by 0.3 percent to 56.9 million tonnes on Monday (Apr 9).

IBGE said that greater yields in southern Brazil led to the overall increase.

The number is much lower than recent Brazil soy crop estimates, which have put the crop closer to 58 million tonnes.