April 16, 2004

Brazil's 2003/2004 Soybean Crop Forecast To Reach 50.9 Million Tons
 
Brazil's 2003/04 soybean crop will total 50.9 million tons according to the latest forecast from the FNP consulting firm, released Thursday afternoon.
 
The figure represents a 1.6% reduction on the 2002/03 figure, despite an 11.7% increase in the soybean-planted area.
 
The main hindrance to productivity has been the weather. FNP now forecasts average yield at 2,451 kilograms/hectare.
 
FNP forecasts that Mato Grosso will harvest 13.9 million tons, Parana 10.2 million tons, Goias 7.3 million tons and Rio Grande do Sul 6.8 million tons.
 
The biggest rates of reduction compared with 2002/03 will occur in Rio Grande do Sul (-29.9%) and Mato Grosso do Sul (-28.8%).
 
FNP sees Mato Grosso do Sul producing 2.8 million tons of 2003/04 soybeans.
 
The consulting form also forecasts 2003/04 soy crop exports at 21 million tons The crushing forecast holds at 30.5 million tons, producing 23.8 million tons of soy meal at 5.8 million tons of soy oil.
 
FNP forecasts that in 2003/04 Brazil will export 16.5 million tons of soy meal and 2.85 million tons of soy oil.