December 9, 2009

 

Brazilian 2009-10 soy crop 85 percent planted

 

 

Brazil's upcoming 2009-10 soy crop was 85 percent planted as of Dec. 4, consultant Celeres said in a report.

 

This compares with a figure of 87 percent for a year ago and 82 percent in the prior week, Celeres said.

 

The ample rain this year has helped planting in Brazil's main centre-west soy belt, but has delayed planting in parts of the south such as Rio Grande do Sul, the No. 3 soy producing state.

 

For instance, Mato Grosso, the No. 1 soy producing state, and Mato Grosso do Sul have already finished their planting. Rio Grande do Sul, however, has planted only 45 percent of its soy as of Dec. 4, compared with 62 percent at the same time last year.

 

The crop now being planted will result in a harvest of an estimated record-breaking 64 million tonnes of soy compared with 58.1 million tonnes for the prior harvest, Celeres said.

 

Celeres also said that the area planted with soy is set to rise to 22.8 million hectares in 2009-10 from 21.4 million hectares in 2008-09.

 

National Commodities Supply Corp., or Conab, pegged Brazil's 2009-10 soy crop at 64.5 million tonnes.

 

Celeres said that Brazilian soy sales remain unchanged from last week with only small deals being done to cover planting expenses.

 

About 19 percent of the new 2009-10 crop was sold and 98percent of the prior 2008-09 crop sold as of Dec. 4, the consultant said.

 

Brazil is the world's No. 2 soy producer after the US.