Brazil's grain production to hit record high

Brazil's grain crop will reach a record-high of 146.5 million tonnes in 2010, close to a 10% rise from last year, according to the Brazilian Institute of Geography and Statistics (IBGE).

According to the IBGE, the figures are up 9.4% from the amount registered in 2009 and even higher than the record 145.9 million tonnes registered in 2008.

The cultivated area is expected to reach 47.3 million hectares in 2010, up 0.1% from last year. The area cultivated with corn and soy is expected to expand 5.9% and 6.5%, respectively.

The production of corn and soy is expected to increase 4% and 19.2%, respectively.

Soy, corn and rice are the bulk of Brazil's grain production, and account for 82.3% of the country's cultivated area.