May 13, 2008

Brazil's new soy crop 68 percent sold

Brazil's new 2007-08 soy crop is 96 percent harvested as of May 9 and 68 percent sold, agribusiness consultancy Celeres said late Monday (May 12, 2008).

Celeres said that although the harvesting is almost complete, soy sales continue at a slow pace.

Mato Grosso, the leading soy producing state, has completed its soy harvest for the season and sold around 86 percent of its crop at this time.

In Parana, the No. 2 producer state, the crop is 99 percent harvested this week with 51 percent sold.

Rio Grande do Sul, the No. 3 producer, has 89 percent of the crop harvested as of May 9 and just 39 percent sold.

Brazil is the No. 2 soy producer and exporter behind the U.S.