July 4, 2007

Brazil raises 2006/07 soy production to 58.03 million tonnes

Brazil harvested 58.03 million metric tonnes of soybeans in the 2006/07 crop year, the National Commodities Supply Corporation, or Conab, said Tuesday (July 3).

The figure is slightly higher than Conab's previous estimate of 58.02 million tonnes.

The number is also in line with nearly all of the private estimates made by Brazil's main soy associations and consulting firms.

Brazil finished its soy harvest in May and will start planting the 2007/08 crop in October.

Brazil is the world's second largest soy producer behind the US.