December 14, 2004

 

 

Brazil Soy Registrations Total 737,000 MT Through Nov 31

 

Brazil soybean export registrations for the 2005 - 06 marketing year (February-January) totaled just 737,000 metric tons up to Nov. 31. This figure is much lower than the 5.30 million tons registered at the same stage last year, according to Secex figures provided by the Brazilian Association of Vegetable Oil Industries, or Abiove on Monday.

 

Forward sales of Brazilian soybeans have been slow this year due to low planting margins and restricted credit.

 

Sales progressed little from the 634,000 tons registered on Nov. 15.

 

Brazil will produce 61.5 million tons of soybeans this year, up 21% from the 50.8 million tons produced the year before, according to Abiove.

 

Exports are seen jumping to 22.5 million tons in 2005-06 from an estimated 19.2 million tons this year.

 

Soymeal registrations totaled 308,000 tons up to Nov. 31, slightly ahead of the 283,000 tons seen 15 days ago but much lower than the 1.30 million tons at the same point last year.

 

Exports of meal are expected to total 16.2 million tons next year, according to Abiove, up from 14.4 million tons this year.

 

Soyoil registrations reached 32,000 tons last week, down from 192,000 tons booked for shipment at the same stage last year.

 

Soyoil exports are seen reaching 2.95 million tons in 2005-06, up from 2.55 million tons this year.

 

Registrations for the last crop rose slowly in the second half of November. The figure for soybeans reached 20.56 million tons, up from 20.46 million tons registered on Nov. 15 and slightly lower than the 20.79 million tons registered at the same stage the previous year.

 

Registrations are actually higher than the Abiove forecast for 2004-05 soybean exports of 19.2 million tons, down from 19.99 million tons last year.

 

Soymeal registrations stood at 14.21 million tons up to Nov. 31, up from 13.76 million tons on Nov. 15 and just behind the 14.47 million tons registered for export at the same time last year.

 

Soyoil registrations rose to 2.87 million tons for the 2004-05 season, up from 2.41 million tons at the same stage last year.

 

Brazil is the world's No. 2 producer and exporter of soybeans.