April 14, 2009

Brazil's leading soy producing state, Mato Grosso, is nearing the end of its harvest, Eduardo Godoi, an analyst at consulting firm AgRural said Monday (April 13).

Mato Grosso state had harvested 97 percent of its soy as of April 8, versus 95 percent the week before and in the same period of 2008, according to AgRural.

"The (Mato Grosso) harvest should finish in the next week or two," Godoi told Dow Jones Newswires.

The eastern part of the mammoth state started to harvest a few weeks later because of rainy weather and therefore is slightly behind other regions. The north, east and western parts of Mato Grosso are finishing up their harvests, he said.

Brazilian farmers overall had harvested 67 percent of the new 2008-09 soy crop as of April 8, AgRural said.

This is slightly above 59 percent the week before and 65 percent in the same period of 2008, it said.

Parana, the country's No. 2 soy growing state, harvested 78 percent of its soy as of April 8, below 80 percent at the same time last year but above 70 percent the prior week, AgRural said.

Brazil's third largest soy producing region, Rio Grande do Sul, harvested 25 percent of its beans.

The harvest in Rio Grande do Sul - traditionally the last to start - is now underway in all parts of the region. The harvest jumped from 9 percent the week before due to the dry weather that allowed easy harvesting, Godoi said.

The consultancy estimated that Brazilian farmers will produce 58.3 million tonnes of soy on 21.6 million hectares in 2008-09.

"Everything is progressing normally," Daniele Siqueira, a soy analyst at AgRural said.

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