April 10, 2012

Brazil's 2011/12 soy crop sales up 70%

Of the total expected production of 67.9 million tonnes, Brazil's 2011/12 soy crop sales grew to 70%, up from 68% a week earlier, analysts at Celeres said on Monday (Apr 9).

The harvest is winding down across the main centre-west and southern soy belts, where rain has been less than optimal this year and will keep the world's No. two soy producer from surpassing last year's record harvest of 75.3 million tonnes.

Celeres said the harvest had reached 82% of the crop area by April 5, up from 76% in the week prior. Last year at this time, 77% of the crop had been collected. The No. one soy state, Mato Grosso, has been finished harvesting for weeks.

No. two soy state Parana is nearly finished the harvest with 97% of its soy brought in. No. four soy state Goias also recently finished with the harvest.

This week No. three soy state Rio Grande do Sul is due to get rain that could slow the harvest. The water will be much too late to help the crop, which is 43% harvested. The state has been very dry since November and has lost a large share of its productive potential, which reached a record 11.6 million tonnes last season.

Brazil is the world's second-largest soy producer after the US and is expected to surpass it to become the largest exporter of the oilseed this year for the first time since 2005/06.