May 3, 2007

Brazil's 2007/08 soy crush rose to 29.8 million tonnes

Brazil's market year 2007/08 soy crush rose on the month to 29.8 million tonnes, but remains unchanged from the April 9 estimate made by the Brazilian Vegetable Oils Industry Association (Abiove) on Wednesday (May 2).

Abiove estimates the current 2006/07 crop to come in around 58.9 million tonnes.

Exports are still put at 26.6 million tonnes.

Exports for soymeal and soyoil were unchanged and stand at 12.7 million and 2.1 million tonnes, respectively.

Local consumption estimates for soymeal remain unchanged at 10.2 million tonnes. The same holds true for soyoil, currently at 3.6 million tonnes.

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