July 3, 2007

Brazil 2006/07 soy sales reach 71 percent

Brazilian soy farmers sold 71 percent of the new crop by June 29, up from 70 percent sold last week, private analysts Celeres said on Monday (July 2).

However, it is still slightly behind the 73 percent sold a year ago and the five-year average of 72 percent.

Celeres has its June estimate of the 2006/07 (Oct/Sept) soybean crop to its July estimate at nearly 59 million tonnes, a record. Harvesting finished in May.

Brazil's leading soy state Mato Grosso has sold 84 percent of its crop, up from 83 percent the week before and even with the 84 percent sold by this time a year ago.

In southern Brazil, where harvesting finished later, sales are less advanced in No.2 soy state Parana with 55 percent of the expected crop sold against 53 percent the week before and 57 percent at this time last year, Celeres said.

Brazil's third largest soy producer Rio Grande do Sul in  the southernmost state has sold 57 percent of its crop, versus 56 percent the week before and 58 percent a year ago.