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Brazil 04-05 Soybean Crop Seen +26% At 64.2 Mln MT
calendar06-08-2004 | linkDow Jones | Share This Post:

SAO PAULO (Dow Jones)--Brazilian soybean output could reach 64.2 millionmetric tons in the 2004-05 season (October-September), some 26% higherthan last season as yields return to normal after last year's weather anddisease problems and planted area grows, said local agriculturalconsultancy Celeres Thursday.Planted area is seen jumping 7.6% to 22.9 million hectares from 21.3million hectares last year while average yields are seen rising 16.9% to2,802 kilograms per hectare from 2,397 kg/hectare."Soybeans remain attractive to farmers despite the losses to droughtand Asian rust incurred last year. It is a better bet than corn," saidAnderson Galvao Gomes, Celeres' soy analyst.Celeres' forecast is a little lower than the U.S. Department ofAgriculture forecast for Brazilian output of 66 million tons, releasedlast month.Brazil is the world's No. 2 producer and exporter of soybeans.