April 13, 2004

 

 

Brazil 2003-04 Soy Harvest 69% Complete

 

Brazil's 2003-04 soybean harvest was 69% complete up to April 8, ahead of the 58% collected at the same point last year, according to the local Celeres agricultural consultancy.

 

Dry weather across Brazil's producing region aided fieldwork in the last seven days, but the drought continues to damage the crop in the south, it said in a weekly report.

 

Last week, some 57% of the crop was harvested.

 

The harvest remains most advanced in the center-west where 93% of the crop has now been collected compared with 77% at the same time last year.

 

Harvesting in Mato Grosso, the main soy state, accelerated as rainfall diminished.

 

In Mato Grosso do Sul, harvesting continues to run smoothly, but the drought during the development period caused considerable losses, said the report.

 

In the state of Goias, harvesting has reached 91% against 81% at the same point last year. The results of the damage caused by Asian rust fungus are still being measured, but average yields are currently below those registered last year. Heavy rain during the harvest period was another reason for considerable losses.

 

In the south of the country, some 50% of the crop had been collected up to Friday, compared with 47% last year.

 

According to the report, farmers had sold 59% of their crop up till Monday, compared with 44% last year and a five-year average of 55%.

 

The report said Brazilian farmers remained reticent about selling soy, despite record prices, because losses to crops keep mounting and prices remain volatile.