September 5, 2007

 

Brazil 2007/08 soy crop may reach 61.9 million tonnes

 

 

Brazil's 2007/08 (Oct/Sept) soybean crop was forecast to rise to a record of between 59.1 million tonnes and 61.9 million tonnes, the agriculture ministry said on Tuesday (September 4).

 

The country's 2006/07 soy crop was seen at 58.4 million tonnes, unchanged from August's projection.

 

This was the first preliminary forecast for Brazil's next crop year, for which planting will begin this month in some areas of the country.

 

Brazil's 2007/08 corn crop was projected at 55 million tonnes, up from 51.1 million tonnes in 2006/07, said the ministry's supply arm Conab. In August, the 2006/07 corn crop was estimated at 50.6 million tonnes.

 

In 2005/06, Brazil harvested 55 million tonnes of soy and 42.5 million tonnes of corn.

 

Conab's logistics director, Silvio Porto said corn and soy producers are "flush with cash", thus an expected increase in next year's crop.

 

On average, the total planted area in 2007/08 for grains should rise by 5 percent, Porto added.

 

Brazil's 2007 wheat crop, now being harvested in states like Parana in the south, was forecast at 3.87 million tonnes, up slightly from the 3.82 million tonnes projected in August. In 2005/06, Brazil harvested 2.23 million tonnes of wheat.

 

Wheat harvest has not begun yet in states like Rio Grande do Sul, Porto said.

 

Conab agents will conduct field studies for the first 2007/08 official crop projection due to be announced next month.

 

Conab also increased its projects for corn exports to 8.5 million tonnes from last month's estimate of 7.5 million tonnes. The agency said the impact of a drought on corn production in western Mato Grosso state, the country's largest grain producer, was not as big as expected last month.