Brazil's 08-09 Soy Crop 58-60MMT

With planting recently begun, opinions are divided as to the size of Brazil's next soybean crop to be harvested in the spring, with some analysts saying that farmers may plant less due to high input prices and lack of credit.

Brazil's Census Bureau, the IBGE, on Thursday put the 2008-09 soy crop at 59.8mmt, whilst Conab on Thursday estimated Brazilian soy farmers to produce between 58.3mmt and 59.3mmt.

Celeres and Oil World currently peg the crop at around 60mmt, similar to that of 2007-08.

The Conab estimate is down from last month's 60-61.2mmt.

Corn production is estimated by Conab at 54.3mmt to 55.2mmt versus 55mmt to 56mmt in October.