Tag: Brazil soybeanBrazil soybean
The Brazilian government increased its forecasts for what’s already expected to be a record season for soybean output and exports as farmers expand the planted area while yield prospects rise on above-average rainfall.
The FAO Food Price Index averaged nearly 162 points in October, up 3.9% from September, while still down 16% from a year earlier. FAO's latest Cereal supply and Demand Brief slightly trimmed its October 2015 forecast for global cereal production and now projects production at 2.53 billion tons, 1.1% below last year's record output
Brazil raised estimates for both its corn and soybean harvests, citing rains which had come in time to boost yields of later planted crops, besides boosting expectations for safrinha corn. The official Conab crop bureau lifted by 1.0m tons to 94.3m tons its estimate for Brazil's soybean production in 2014-15, as late rainfall helped results surprise positively in particular in central areas.
Brazil's sowings of safrinha corn are to fall for the first time in seven years, Conab (National Supply Co.) said, cutting its forecast for the country's overall production of the grain, and lowering hopes for the soybean harvest too.
Brazil's commodities bureau, Conab hiked by 5.3 million tons to 95.8 million tons its forecast for the country's soybean crop, reversing the negative trend in harvest forecasts, citing the benefit from rains in some southern areas. The previous estimate for the crop to be harvested early next year was 90.5m tons.
The Brazilian production of grains in 2013/2014 has reached 195.46 million tons, according to the country’s National Supply Company, Conab. The number is a 3.6% (6.8 million tons) increase compared to the previous season.
Brazil which has become one of the world’s food powerhouses is forecasting a record harvest of 192.5 million tons of grains, up 2.3% over the previous period, according to the latest report from the Brazilian Stats and Geography Institute, IBGE.
Brazil, one of the world's leading agricultural producers, expects a record grain harvest this year of 192.3 million tons, up 2.2% from 2013, the IBGE statistics agency said this week.
Brazilian soy crushing association Abiove said on Tuesday the nation would export 43 million tons of soybeans from this season's nearly harvested crop, down from its forecast of 44 million tons a month earlier due to weaker Chinese demand.
Brazil's Congress struck down this week a proposal to impose new taxes on the internal soy market after fierce opposition from the country's agricultural sector. An amendment to apply a tax known as PIS/Cofins on soybean sales to some domestic buyers had been removed from a bill to simplify taxation of Brazilian companies abroad that was passed by the lower chamber late on Tuesday.