Sales of Brazil's 2011/12 soyabean crop rose to 65 percent of the total expected production of 69.8 million tonnes, up from 58 percent a week earlier, analysts Celeres said on Monday. Harvest is peaking across the main center-west and southern soya belts, where rain has been less than optimal this year and will keep the world's No 2 soyabean producer from surpassing last year's record harvest.
Grain futures markets are percolating on concerns of the dry weather over Brazil, Argentina and Paraguay, which together account for over half the world's trade in soyabeans, an important source of protein. Celeres said harvest had reached 68 percent of the crop area by March 23, up from 58 percent in the week prior. Last year at this time, 56 percent of the crop had been collected. The No 1 soyabean state Mato Grosso, No 2 soya state Parana and No 4 soya state Goias were the most advanced in harvest. The south is due to get rain early this week that should help parched crops that are still developing but will not reverse losses already caused by the drought in the region since November.
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