October 28, 2004

IBGE Holds Brazil 2003-04 Soy Crop View To 49.2 Million MT

The Brazilian Census Bureau, or IBGE, on Wednesday held its estimate for the 2003-04 soybean crop (October-September), projecting a crop of 49.20 million metric tons.
 
The forecast is virtually the same as the September estimate of 49.22 million tons but 4.4% lower than last year's production of 51.48 million tons, said a monthly report.
 
Brazil's grain, oilseed and cereal crop is now expected to total 119.5 million tons this season, marginally higher than the 119.4 million tons estimated in September and 3.2% lower than the 123.6 million tons produced last year.
 
The wheat crop estimate was lowered by 1.9% compared with August because of drought in the main-producing state of Parana. Production is forecast at 6.01 million tons, on a par with the 6.03 million tons turned out the year before.
 
According to the report, by the end of September, some 58% of the crop had been harvested
 
Winter crop corn production is forecast at 10.82 million tons, up from 10.67 million tons estimated last month due to excellent harvest results in the states of Mato Grosso and Minas Gerais. Output remains 19% lower than the 13.30 million tons produced last year as a 14% growth in Mato Grosso's output did not offset a 42% drop in Parana, the main corn producing state.
 
Total corn production in 2003-04 is forecast at 41.95 million tons, down 12.6% from 47.99 million tons produced the year before.