September 5, 2007

Rains seen to boost Brazil corn, soy crops

Brazilian farmers harvested more corn than previously forecast after rains boosted yields, and soybean production jumped 6 percent to a record, the Brazilian government said.

The Brazilian agriculture ministry said the country harvested a record 51.1 million tonnes of the grain in the crop year that ends this month, up from an earlier forecast of 50.7 million tonnes. Production rose 20 percent from 42.5 million tonnes in the previous crop year.

More rains than usual this year after droughts in the previous two summers have improved and increased output, the ministry said.

The estimate for the soy harvest was little changed at a record 58.39 million tonnes, compared with 58.42 million tonnes forecast last month, the ministry said. Output will rise 6 percent from 55 million tonnes in the previous crop year.

Brazil's soybean output trails production in the US and China.