December 24, 2007

Brazil's November soy crush down 9 percent from 2006 levels

Brazil's soy crushing in November totaled 2.182 million tonnes, down 8.7 percent  from 2.394 million tonnes crushed in November 2006, the Vegetable Oils Industry Association (Abiove) said.

The figure was also down 7.6 percent from the 2.364 million tonnes in October.

Abiove forecast Brazil to crush 30.7 million tonnes over the 2007/08 year, up from 28.756 million tonnes crushed last year.

For the coming industrial year beginning in February, Abiove expects a total crushing of 31.5 million tonnes.

The association puts Brazil's next crop at 60.5 million tonnes, up from 59.1 million tonnes last season. The figure is above Brazil's government supply agency Conab's estimate of 58.1 million tonnes.