Brazil '08 corn and soybean output up - Conab
The Brazilian Agriculture ministry, Conab, has said that the country will harvest a very specific 59.99mmt of soybeans in 2008, up from it's March estimate of 59.6mmt, and 58.4mmt in 2007.
The corn crop will come in at 56.2mmt, almost a million tons up on it's March estimate of 55.3mmt, and 4.8mmt up on 2007's 51.4mmt.
Yields were boosted by above-average rainfall in the months before the harvest in the Centre-West, which accounts for half of Brazil's soybean output, they said.
Interestingly Conab's estimates are quite different from last month's USDA numbers. In March the USDA said Brazil would harvest 61mmt of soybeans and 53mmt of corn.
The USDA will issue it's revised April estimates later today.
The corn crop will come in at 56.2mmt, almost a million tons up on it's March estimate of 55.3mmt, and 4.8mmt up on 2007's 51.4mmt.
Yields were boosted by above-average rainfall in the months before the harvest in the Centre-West, which accounts for half of Brazil's soybean output, they said.
Interestingly Conab's estimates are quite different from last month's USDA numbers. In March the USDA said Brazil would harvest 61mmt of soybeans and 53mmt of corn.
The USDA will issue it's revised April estimates later today.
