Brazil's Mato Grosso soy four percent planted as of Oct 2

 

 

Soy farmers in Mato Grosso state, Brazil's No. 1 soy-producing state, planted four percent of their soy as of October 2, agricultural consultancy Celeres said this week.

 

This compares to a five-year average of one percent planted, and three percent planted at the same time last year, according to Celeres.

 

Farmers, who are keen to bring their beans to the market early to benefit from low stocks, had planted one percent by September 25

 

Elsewhere in the center-west soy belt, farmers in Goias state had planted three percent of their soy during the week from zero the previous week and compared to two percent at the same time last year.

 

Overall, Brazilian soy farmers have planted two percent of their soy in the week to October 2 compared to one percent at the same time a year ago.

 

Celeres said that Brazilian soy sales still remain virtually static as prices remain unattractive to tempt producers to sell.

 

Brazil producers sold 14 percent of their new 2009-10 soy crop as of October 2, Celeres said.

 

Celeres said sales figures as of October 2 were below the five-year average of 18 percent and 19 percent at the same time a year ago.

 

Celeres said that Brazil's old 2008-09 soy crop is 93 percent sold as of October 2, unchanged from the week before. This is the below the five-year average of 96 percent, Celeres said.

 

Celeres said that the old 2008-09 crop produced 58.1 million 60-kilogramme bags of soy, while the new 2009-10 crop remains pegged at a record 64.6 million bags.

 

Brazil is the world's No. 2 soy producer, behind the US.