June 13, 2007

Brazil 2006/2007 crop soy sales reach 68 percent

Soy farmers from Brazil sold 68 percent of the new crop by June 8, slightly up from 67 percent sold last week, private analysts Celeres said in its weekly report.

Though it is faintly low compared to 69 percent sold a year ago due to the weakening dollar, sales are still in line with the five-year average, said Celeres.

Celeres estimates 2006/07 (Oct/Sept) soybean output at a record 59 million tonnes due to excellent crop weather and higher yields. Harvesting finished in May.

In the centre-west, leading soy state Mato Grosso has sold 80 percent of its crop, up from 79 percent the week before and even with the 80 percent sold by this time a year ago.

Sales are less advanced in No.2 soy state Parana with 51 percent of the expected crop sold, against 50 percent the week before and 53 percent at this time last year, Celeres said.

Rio Grande do Sul in the southernmost state, has sold 54 percent of its crop, versus 53 percent the week before and 55 percent a year ago.