November 21, 2006

AgRural: Brazil's 2006/07 soy crop 70 percent planted

Brazil's 2006/07 soy crop is 70 percent planted as of Nov 17, up from 52 percent last week, farm consulting firm, AgRural, said Monday (Nov 20).

AgRural estimates a total soy crop of 21.3 million hectares, down slightly from the 2005/06 season. Total production is seen at 55.9 million tonnes.

Soy plantings are moving along at a faster pace than in previous years because of good planting weather throughout much of Brazil's soy regions, AgRural said recently.

Mato Grosso has 90 percent of its 5.3 million hectares planted as of Friday and Parana has 85 percent of its estimated 4.1 million hectares planted, AgRural said. Mato Grosso and Parana are the no. 1 and no. 2 producing states, respectively. In Rio Grande do Sul, the no. 3 producer, 52 percent of the states 4 million hectares of soy fields have been planted, up from 23 percent last week.

Brazil is the world's no. 2 soy producer and exporter behind the US.