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:

You May Also Like

It’s Time Brazil Adopts a More Flexible Monetary Policy, says BNDES Chief

“Now that inflation is under control in Brazil, we can adopt a more flexible ...

Chaos at Brazil’s Airports Leads Lula to Call Emergency Late-Night Meeting

A breakdown in the radios that control Brazilian airspace, which caused misery in airports ...

Brazil’s 2005 Trade Surplus Well Above Expectations: US$ 44 Bi

Brazil’s Minister of Development, Industry and Foreign Trade, Luis Fernando Furlan, told journalists at ...

Brazil Cheers Fed’s Cut and Gets Ready for Bull Times

The surprising US Fed's cut of its federal funds rate by 50 basis points ...

Best-seller Books, Plays and Movies

By Brazzil Magazine Relax…It’s Sex—Music comedy. Written, directed and composed by Wolf Maya, with ...

Ethanol: With an American Friend Like This Brazil Needs No Enemies

In a recent letter to President Obama, the Republican Senator from Iowa, Charles Grassley, ...

November 1994

CONTENTS: Cover story: We are reading more (p. 8) All about the president (p. ...

Alice’s House, the Intricate Family Web of a Brazilian First-Time Director

Brazilian movie Alice's House, Chico Teixeira's multi-award winning first feature, is about contemporary life ...

Brazil Hands Out US$ 3.7 Billion for 2008/2009 Crop

State-owned Bank of Brazil (BB) has disbursed 6.7 billion Brazilian reais (US$ 3.7 billion) ...

Fed Chairman Refutes Brazil Saying US Measures Boost Global Economy

Federal Reserve chairman Ben Bernanke has defended the central bank’s measures to bolster the ...