September 12, 2011

Brazil soy 2010-11 soy forecast unchanged; poised to beat last season's record harvest

Government crop agency Conab on Friday (September 9) maintained its Brazil's 2010-11 soy crop forecast at 75.3 million tonnes and may likely overwhelm last season's record harvest.

Brazil, the world's second-largest producer and exporter of soy, brought in 68.7 million tonnes of soy last season.

Conab said total output of corn for this season would rise to 57.5 million tonnes from a previous estimate in August of 56.3 million tonnes. Brazil harvested 56 million tonnes of corn in the 2009/10 year.

As seen in previous forecast, Brazil's estimated wheat output for 2011 was trimmed to 5.14 million tonnes from 5.28 million tonnes.

The forecast for the country's cotton lint crop was kept stable at 1.95 million tonnes, while it harvested 1.19 million tonnes.