September 23, 2009

Brazilian soy producers have sold 14 percent of 2009-10 soy crop that farmers just started planting, up one percent from a week earlier but down from 17 percent a year ago, analyst Celeres said.

On average during the past five years, producers have sold 17 percent of the new crop by the week of September 18, Celeres said in a weekly soy report released late on Monday (Sep 21).

Chicago soy futures prices have been on a downward trend since July.

The No. 1 soy producing state of Mato Grosso is most advanced with sales at 21 percent of the crop, compared with 20 percent a week earlier and trailing the 27 percent sold a year ago. No. 4 soy state Goias is 18 percent sold, unchanged from past weeks and behind 20 percent a year ago.

The No. 2 soy state of Parana in the south is 8 percent sold, the same as in previous weeks and off the 9 percent last year at this time. No. 3 soy state Rio Grande do Sul, also in the south, is 3 percent sold, unchanged from last week and behind the 5 percent a year ago.

Farmers have sold 93 percent of the 2008-09 soy crop, which finished harvest in May, slightly up from 92 percent a year ago.