November 10, 2006

Conab puts Brazil's 2006/07 soy production at 55.2 million tonnes

Brazil's 2006/07 soy crop should produce 55.2 million tonnes of soybeans from planted area estimated between 20.7 million and 21.1 million hectares, the National Commodities Supply Corp (Conab) said Thursday (Nov 9).

In Conab's first planting intentions estimate for the 2006/07 soy crop, 20.5 million hectares to 21 million hectares were expected to be planted compared with the 22.2 million hectares of soy planted in 2005/06.

Production estimates were put between 53.5 million and 55 million tonnes in the first estimate.

Conab said it raised its production estimate because of good weather conditions during the entire planting season.

Brazil begins planting soybeans in late September.

Brazil is the no. 2 soy producer behind the US.