October 28, 2005

Brazil's September soybean crush totals 2.07 million tonnes
 

Brazil's soybean crush totalled 2.067 million tonnes in September, an increase from 2.023 million tonnes in August, according to Brazil's Vegetable Oils Industry, also known as Abiove.

The September crush produced 1.59 million tonnes of soymeal and 402,000 tonnes of soyoil.

Soy crushers have bought 33.2 million tonnes of the 51.4 million tonnes produced this year.

Soybean stocks for the month of September are forecast at 5.89 million tonnes, while soymeal stocks should end the month at 1.19 million tonnes.

For the 2005-06 commercial year (February-January), the soy industry will crush an estimated 28.6 million tonnes, down from 28.9 million tonnes in 2004-05.

Abiove's September estimates are based on data from crushers that account for 83 percent to 85 percent of Brazil's total crushing capacity.

Soybean exports from the 2005-06 crop are seen reaching 24.5 million tonnes, up from 18.95 million tonnes last year.

Lower prices mean soy complex export revenues will fall to US$8.841 billion in 2005 compared to $10.05 billion in 2004. Abiove estimates exports of US$8.9 billion next year.

Brazil is the world's no. 2 soybean producer after the US.