October 26, 2004

Brazil Soybean Crush Slows To 2.25 Million MT In Sept

Brazilian crushers processed 2.25 million metric tons of soybeans in September, down from the 2.43 million tons crushed the month before, according to industry figures published Monday.
 
Crushing fell from 2.55 million tons processed in September 2003 when the crop was 2% larger, according to the Brazilian Vegetable Oil Industries Association, or Abiove.
 
The stocking of soybeans by farmers and low crushing margins have caused industries to reduce the pace of processing.
 
The crush in the first eight months of the Brazilian soy season (February-January) totaled 18.64 million tons, some 64% of the projected 29.2 million tons for the year.
 
Soybean acquisitions fell to 1.02 million tons in September from 1.15 million tons in August, while soybean industry exports totaled 493,000 tons, down from 1.05 million tons shipped the month before as Brazil goes deeper into its harvest season.
 
Brazil is the world's No. 2 soybean producer and exporter of soy complex. The figures were based on a survey of Abiove members and encompass 88% to 90% of total crushing capacity.
 
Brazil monthly soy statistics (figures expressed in millions of metric tons):
 
SOYBEAN                   August     September
Carryover Stocks           8.14       5.77
Soybean Purchases          1.15       1.02
Crushing                   2.43       2.25
Industry Exports           1.05       0.49
End Stocks                 5.77       3.96
 
SOYMEAL
Carryover Stocks           1.63       1.44
Production                 1.86       1.74
Exports                    1.47       1.44
Domestic Consumption     0.58       0.55
End Stocks                 1.44       1.19
 
SOYOIL
Carryover Stocks           0.35       0.27
Production                 0.47       0.44
Exports                    0.32       0.11
Domestic Consumption    0.23       0.22