April 17, 2007

Brazil's 2006/07 soy 55 percent sold, 79 percent harvested

Brazil's new 2006/07 soy crop is currently 55 percent sold and 79 percent harvested as of last week, agribusiness consultancy Celeres said Monday (Apr 16).

Brazil's official soy crop estimate is put at 57.9 million tonnes.

Brazil's soy harvest is some 7 percentage points ahead of the last five-year average thanks to good weather conditions.

Brazil's southernmost state, Rio Grande do Sul, now has 39 percent of its crop harvested, 11 percentage points higher than a week ago. Rio Grande do Sul is the no. 3 soy producer behind Parana and Mato Grosso.

Brazil is the world's no. 2 soy producer and exporter behind the US.