September 5, 2007

Brazilian 2007/08 soyoil exports may reach 2.5 million tonnes

Brazil's February 2007-January 2008 soy oil exports is seen to reach 2.25 million tonnes, the Brazilian Oilseeds Association (Abiove) forecast Monday, up from its prior forecast of 2 million tonnes.

The association holds its soy crush forecast at 30 million tonnes and export forecast at 26.8 million tonnes.

Soyoil and soymeal production predictions are held at 5.7 million and 23 million tonnes respectively.

Abiove forecasts soybean production at 59.5 million tonnes.

The association reports that the crushers stocks totalled 11.271 million tonnes in July, against 13.175 million tonnes in June. July 2006 stocks totalled 10.282 million tonnes.