October 5, 2007

 

Brazi's 2007/08 soy crop seen at 61.3 million tonnes

 

 

Brazil's 2007/08 (Oct/Sept) soy crop is expected to rise to a record of between 59.4 million and 61.3 million tonnes from the 58.4 million tonnes harvested in 2006/07, the agriculture ministry said on Thursday (October 4).

 

The increase of 1.7-4.9 percent was Brazil's first official estimate for next year's crop. Soy planting started last month in a few areas in Mato Grosso state.

 

The increase is due mainly to prices, which are much higher than in previous seasons, the ministry's supply arm, Conab, said in a statement.

 

The ministry released a preliminary forecast for the season in September, putting the 2007/08 soy crop at between 59.1 million and 61.9 million tonnes.

 

Soy planted area was forecast at 21.2 million to 21.9 million hectares, up from 20.7 million hectares in 2006/07.

 

Mato Grosso, Brazil's top soy producer, was expected to lead the soy planted area increase, with 7 percent to 11 percent growth from last season.

 

Two other states - Goias and Mato Grosso do Sul, should see growth of 2 percent to 5 percent.

 

Brazil's 2007/08 corn crop was projected at between 51.8 million and 52.8 million tonnes, up from last season's 51.1 million tonnes.

 

The preliminary estimate for corn, released in September, was 55 million tonnes.

 

Corn area was forecast at 14.2 million to 14.4 million hectares, compared with 14 million hectares in 2006/07.

 

The overall grain output was estimated at a record 134.9 million to 138.3 million tonnes. In 2006/07, Brazil harvested 131.5 million tonnes.