June 10, 2008

Brazil raises 2008 grain harvest forecast to 144 million tonnes

The Brazilian Census Bureau (IBGE) raised Monday (June 9, 2008) its grain harvest forecast this year by 1.2 percent to 144.3 million metric tonnes.

The bureau previously projected the country's grains crop to hit 142.6 million tonnes.

The IBGE forecast is similar to that of Brazil's National Commodities Corp. (Conab), which put the country's 2007/2008 grains harvest at a record 143.3 million tonnes.

Brazil's total planted area is around 47 million hectares, an increase of 3.7 percent on-year, IBGE said.

Soy and corn will respectively occupy 21.2 million and 14.5 million, the bureau added.

Brazil's soy crop is expected to hit a new record of 59.8 million tonnes this year.