Saturday, January 9th 2010 - 13:48 UTC

Brazil anticipates second largest grain and oil seed crop in history

Brazil expects in 2010 the second largest grain and oil seed crop in history, closely linked to the success of soy beans, totalling 140 million tons, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.

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Soybean is the main cultivation Zoom Image

The forecasted 140.7 million tons of this year represent a 5.2% increase over the 2009 crop which totalled 133.8 million tons.

Brazil’s record harvest was in 2008 with 146 million tons.

According to IBGE the cultivated area will increase 2%, reaching 48.1 million hectares.

Soybean in the main crop with 65 million tons (up 14%) with a 5.8% increase in the area planted.

Corn on the other hand faces an “unfavourable scenario” given low market prices, and the crop should be in the range of 32.7 million tons, 3.2% less than in 2009.