Safras lowered Brazil's soybean production forecast to 61.16 million tons
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Last Update: 2008-11-03
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Source: Internet
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Author: User
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Introduction: according to the latest report released on Friday by safras, Brazil's agricultural consulting agency, Brazil's soybean production in 2004-05 is expected to be 61.16 million tons, an increase of 23% over the previous year But safras's new forecast is down from its previous forecast of 63.57 million tons in December According to the report, Brazil's soybean export will increase by 19% to 23 million tons in 2004-05, and soybean crushing by 14% to 33 million tons As a result of increased production, safras expects Brazil's soybean carry over inventory to reach 5.08 million tons at the end of 2005, an increase of 119% over 2004 It is estimated that 6% of Brazil's soybean harvest has been completed so far
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