70 Million Tons: Brazil Expecting a Record Soybean Crop This Year

Brazilian soy Due to improved climate conditions and expansion of the area planted Brazil could harvest a record crop of 70 million tons of soybeans in 2011  according to Hamburg based Oil World consultants. “Prospects for soybeans have improved, with the possibility of a record crop of 69/70 million tons this year,” said Oil World. This compares with the previous 2010 crop of 68.6 million tons.

Brazil is the world’s second exporter of soy behind the United States.

“Rainfall undoubtedly improved prospects in the Brazilian region of Rio Grande do Sul while crop results in the Mato Grosso are even better than those originally estimated,” said Oil World.

Oil World also mentioned that Abiove, Brazil’s soy milling industry association last February first increased the estimate of the country’s 2011 crop to 68.8 million tons.

Brazilian agriculture consultants Celeres was also optimistic about a record soy harvest arguing that on time rainfall and improved yields have helped. The Uberlândia based consultants raised its December-January crop estimate from 68.1 million to 68.9 million tons while increasing the average yield from 2.873 kilos per hectare to 2.917 kilos.

The area planted is estimated in 23.9 million hectares, up 2.5% from a year earlier, Celeres said in its latest estimates.

Celeres also advanced that an estimated 49% of Brazil’s 2010-2011 soy crop had been sold in advance as of February 4, compared with 26% a year ago and 47% a week ago.

The consultants estimate that by 4 February 7% of the current crop had been harvested compared with 10% a year ago. The average for this time of the year is 2%, according to Celeres.

“Farmers are selling more in advance to take advantage of good international prices this year,” said Celeres analysts.

Mato Grosso state begun to harvest the soy bean 2010-2011 crop in January, while harvesting in Rio Grande do Sul, Brazil’s third-biggest soy-producing state can extend until May.

Regarding Argentina, Oil World increased its February first 2011 soybean crop estimate one million ton to 48 million tons. However this will be below the 54.4 million tons of last year.

Mercopress

Tags:

Ads

You May Also Like

Brazil’s Businesses (526 of Them) Discover the Arab World

While Brazil’s President Luiz Inácio Lula da Silva visited the pyramids of Giza at ...

Brazilian Exports Drop 17%

Brazil’s foreign sales totaled US$ 2.073 billion last week, 17.41% less than the US$ ...

Matte Leão, a traditional

Brazil’s Centenary Matte Leí£o Has Joined the Coke Family

In an eloquent demonstration of its apparently insatiable thirst for Brazilian companies, Coca-Cola has ...

Biopiracy Will Be Main Concern for Brazil’s Biodiversity Convention

The 8th Conference of the Parties to the Biological Diversity Convention (COP8) which begins ...

Brazil and South America Split over US-Colombia Military Cooperation

Brazil and neighbors finally issued this past Friday, a statement warning "foreign military forces" ...

Portugal Backs Brazil for Permanent UN Seat

The prime minister of Portugal, Pedro Santana Lopes, who is on an official visit ...

Waging Peace – The View from Brazil

Just as the "ordinary citizen" of Iraq cannot be generalized as a clone of ...

Brazil Launches Its First Bio Insecticide

Brazil’s  Embrapa Genetic Resources and Biotechnology and the Bthek Biotechnology Company are launching today ...

Another Poll Shows Dilma as Brazil’s Next President. She’s Only Losing in the South

Brazil’s latest public opinion poll taken by the Sensus Institute, sponsored by the National ...

Walking Through Rio

There’s more to Rio than beaches. Don’t miss exploring some of the city’s museums, ...