December 5, 2008
Brazil new soy crush remains at 33 million tonnes
Brazil's new 2008-2009 soy crush was left unchanged Thursday (December 4) by the Brazilian Vegetable Oils Industry Association, or Abiove, but a smaller crop is expected.
Brazil should crush 33 million tonnes of soy in the 2008-09 crop. Brazil is currently in the final stage of planting its 2008-09 crop.
The total crop is expected to be 61.2 million tonnes compared to 61.4 million tonnes estimated by Abiove on November 6.
As a result of the smaller crop, and slowing demand from key buyers such as China, Abiove revised its export estimate to 26.4 million tonnes in 2008-09 compared to 26.7 million tonnes on Nov. 6.
Brazil exported 24.6 million tonnes in last year's soy crop.
Brazil's soy crush numbers are used as a market barometer that measures the size of the national soy crop and supply and demand.
Brazil is the No. 2 soy producer behind the US.