May 7, 2010

Soy production in Brazil will increase by 12.8 million tonnes over the 2008-2009 production year totalling 67.9 million tonnes this year.

Favourable weather for soy producing areas hasn't hurt yields, and the country planted more than 51 million acres of soy this year compared to 48 million acres in the 2008-2009 crop years.

In the Brazilian state of Parana alone, farmers could top 14 million tons of soy versus just 9.5 million tonnes last year.

Rabobank Australia kept its estimate of Australian wheat production at the forecast of 21.8 million tonnes, which is about the same as the previous crop year. Despite some dry weather, planting conditions remained favourable. While Western Australia is looking for rain before it can plant winter wheat, dry planting has started in some areas.

Rapeseed production is pegged at 2 million tonnes, and a rising portion of that production is biotech rapeseed. Rabobank predicts as much as 15% of next year's crop could be genetically modified rapeseed.