June 17, 2009

Brazil's soy farmers have sold 72 percent of their soy crop as of June 12, according to agricultural consultancy Celeres on Tuesday (June 16).

Celeres said sales figures as of June 12 were up from 69 percent on June 5 and slightly below the five-year average of 71 percent.

Sales in the physical soy market advanced steadily last week propelled by some good price increases on the Chicago Board of Trade, said Celeres.

In Mato Grosso, Brazil's No.1 soy producing state, farmers have sold 89 percent of their beans.

In Parana, the No.2 soy producing state, farmers have sold 52 percent as of June 12.

Brazil's soy farmers have completed their soy harvest.

Brazil is the world's No. 2 soy producer, behind the US.