May 8, 2009

Brazil should harvest 57.6 million tonnes of soy in the new 2008-09 crop year, the National Commodities Supply Corp, or Conab, said Thursday (May 7).

 

Conab's eighth crop estimate is four-percent below the 2007-08 crop of 60 million tonnes.

 

The estimate is also slightly below Conab's previous estimate in April that put the soy crop at 58.1 million tonnes for 2008-09, due to dry weather especially in southern states.

 

Conab's new crop estimate is in line with private estimates of between 57-58 million tonnes.

 

Planted area is seen at 21.6 million hectares in 2008-09 compared to 21.3 million hectares in the 2007-08 season, Conab said.

 

The harvesting is nearly finished in Brazil, with states such as Mato Grosso, Brazil's No.1 soy producer, already finished.

 

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