November 29, 2004

 

 

Brazil Soybean Crush Slows To 1.99 Million MT In Oct

 

Brazilian crushers processed 1.99 million metric tons of soybeans in October, down from the 2.29 million tons crushed the month before, according to industry figures published Friday.

 

Crushing was also substantially lower than the 2.51 million tons processed in October 2003 when the crop was 2% larger, according to the Brazilian Vegetable Oil Industries Association, or Abiove.

 

Low crushing margins have caused industries to reduce the pace of processing this year.

 

The crush in the first nine months of the Brazilian soy season (February-January) totaled 20.66 million tons, some 71% of the projected 29.2 million tons for the year.

 

Soybean acquisitions rose to 1.48 million tons in October from 1.05 million tons in September as producers in the center-west make more soy available. Meanwhile industry exports fell to 240,000 tons, down from 493,000 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 encompasses 88% to 90% of total crushing capacity.

 

Brazil monthly soy statistics (figures expressed in millions of metric tons):

 

SOYBEAN                         October    September

Carryover Stocks               3.96            5.77

Soybean Purchases            1.48            1.02

Crushing                           1.99            2.25

Industry Exports                0.24            0.49

End Stocks                        2.90            3.96

SOYMEAL

Carryover Stocks               1.20           1.44

Production                         1.53           1.74

Exports                             0.96           1.44

Domestic Consumption       1.19           0.55