October 1, 2004

IBGE Raises Brazil 2003-04 Soy Crop View To 49.22 Million MT

The Brazilian Census Bureau, or IBGE, on Thursday raised its estimate for the 2003-04 soybean crop (October-September) to 49.22 million metric tons.
 
The forecast is marginally higher than the August estimate of 49.18 million tons but 4.4% lower than last year's production of 51.48 million tons, said a monthly report.
 
Brazil's grain, oilseed and cereal crop is now expected to total 119.4 million tons this season, slightly lower than the 119.5 million tons estimated in August and lower than the 123.6 million tons produced last year.
 
The estimate was lowered by 2.02% for the wheat crop, which is currently being harvested because of drought and fungus attacks in the main-producing state of Parana. Production is forecast at 6.12 million tons, up 1.5% from 6.03 million tons last season.
 
According to the report, in August, some 50% of the crop is in the vegetative development phase; some 30% is in the flowering phase and 20% in the pod-filling phase.
 
Winter crop corn production is forecast at 10.67 million tons, down 19.7% from the 13.30 million tons produced last year. Dry weather in August allowed harvest efforts to progress, and corn collected has been classified as in regular to good quality.
 
Total corn production in 2003-04 is forecast at 41.91 million tons, down 12.7% from 47.98 million tons produced the year before.