September 3, 2004

Brazil 2004-05 Soy Crop Will Not Top 60 Million MT

Brazil's coming 2004-05 soybean crop (October- September) will total no more than 60 million metric tons, an Agriculture Ministry official said Thursday.

The estimate represents a significant jump from the 49.7 million tons produced last year, but much lower than the 66 million tons forecast by the U.S. Department of Agriculture.

"In the most optimistic of hypotheses, with ideal weather, production could top 59 million tons," said Luis Carlos Guedes Pinto, president of the National Commodities Supply Corp., or Conab, speaking at a press conference in the country's capital of Brasilia.

Conab is due to release its first 2004-05 crop forecast on Oct. 21.

Total grains, cereals and oilseed production could top 130 million tons next season, up from 119.3 million tons this year, as farmers plant another 1.0 million to 1.5 million hectares mainly in the center-west highland regions, he said. Planting will take place mainly on unused pasture, he added.