September 12, 2006

Brazil's final 2005/06 soy crop estimate at 53.4 million tonnes

The official final volume total for Brazil's 2005/06 soy crop is 53.4 million tonnes, the Agriculture Ministry's National Commodities Supply Corp (Conab) said Monday (Sep 11).

The number has not changed from their August estimate.

Dry weather in pockets of Parana, Bahia, Goias and Mato Grosso do Sul states, coupled with Asian soybean rust in the leading producer state of Mato Grosso, led to a much smaller crop than had initially been projected at the start of the season. Early projections put the crop closer to 58 million tonnes.

Brazil is the second largest soy producer and exporter behind the US. Soy is Brazil's no. 1 traded farm commodity and largest farm crop. Soy growers start planting the 2006/07 crop on Oct 1.