Brazil preparing planting activities

Soybean planting activities should start in Center-Westerner of Brazil in the second quince of September.

At this moment, Brazil is an important soybean supplier in the global market, as US is just about to harvest the new crop production.

Once again, this year, global buyers will be able to import from both South and North Hemisphere during the harvest time in US.

USDA forecasted 2006/07 soybean crop production in the United States at 84.18 million tons, a volume 5.6 percent superior from the August's report, signalizing the second main production of the country's history.

The global production keeps projected at a record volume of 221.89 million tons.

Those projections keep futures for the grain pressed down in Chicago Mercantile Exchange (CBOT).

Other two reasons for the downward trend are the larger planted area in Argentina and the estimative of a lower reduction in Brazilian cultivated area (less than 10 percent).

In Brazil, the domestic market moves at a slow pace. The CEPEA/ESALQ Index for the grain average 13.00 dollars per bag of 60 kilos on Sep 18, up 1.96 percent in the month.


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