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Brazilian Soybean Production to Reach 65m Tonnes

Crop projections increased by two million tonnes in January compared to December, and were up eight million tonnes (14 per cent) compared to the previous year.

This comes off the back of higher soybean planting in the country, particularly in the states of Mato, Grosso and Parana, due to higher prices and greater profit margins offered compared to corn.

Yield is also expected to increase by 0.01 tonnes per hectacre above the 15-year trend, to 2.81 tonnes per hectacre.

Early and above average rains additionally prompted farmers to plant earlier than usual, with the exception of Rio Grande do Sul, where particularly heavy rains in November and December delayed planting.

Commenting on the forecasts, which could be set to contribute to keeping prices of soybeans low for this year, analyst at Advance Trading Brian Basting told Reuters: "There is a considerable downside risk for prices through 2010."

TheBioenergySite News Desk

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