September 29, 2006

Brazil's soy registrations at 104 percent for 2006/07 crop

Registrations of Brazilian soybean exports for market year 2006/07 are now at 104 percent, surpassing the estimated 25.2 million tonnes Brazil was expected to export this year as of Sep 15, the Brazilian Vegetable Oils Industry Association, or Abiove, said Thursday (Sep 28).

Some 26 million tonnes of soybeans have been registered for export as of Sep 15.

Abiove put Brazil's 2005/06 soy crop production total at 55.7 million tonnes, the highest private 2005/06 crop estimate around. Most estimates put the crop around 53 million tonnes. The crop is fully harvested. Some states are already planting the 2006/07 soy crop.

Brazil has more soybeans registered for export at this time than it has over the last five years, Abiove reported, due to the ongoing international demand from Europe and China.

Abiove maintained its market year 2006/07 soybean exports to be a record- breaking 25.2 million tonnes, compared to 22.4 tonnes in market year 2005/06 and 19 million in 2004/05. Some of the soy registered for export might not be shipped until early 2007.

Brazil's 2006/07 soy crush remains at 27.8 million tonnes, Brazil's lowest crush in three years.