December 22, 2010

Brazil completes 2010/11 soy planting in two states

Sowing of Brazil's 2010/11 (Sept/Aug) soy crop is now complete in the two major soy states, although dry weather that slowed planting this year could delay some of the crop, grain analysts Celeres said.

In the past week, the total area planted rose to 97%. Though the largest soy grower, Mato Grosso, and No. 2 Parana were finished planting, Rio Grande do Sul lagged behind with 91% of the crop planted.

More than 90% of the crop was now in the phase of vegetative development, Celeres said.

By December 17, 36% of the total crop had been forward sold, ahead of the five-year average of 29% by this time of year.

A cold front was expected to deliver rain to all of the main soy growing areas in the world's No. 2 exporter of the oilseed.