June 10, 2008

Brazil's soy crop to surpass forecast

Brazil's soy output will rise more than early forecasts due to rains, fertilizers and pesticides, the agriculture ministry's crop forecasting agency Conab, said.

This year, farmers will harvest 59.9 million tonnes of soy, up from a May estimate of 59.5 million tonnes.

Brazil's production will rise from a record 58.4 million tonnes in 2007.

The robust outlook has been due to generous rains in the country's major soy producing areas in the first three months of the year.

Meanwhile corn harvest was estimated to reach a record of 58.4 million tonnes, up from 51.4 million tonnes last year, Conab said.