Oil World Revises Brazilian Soybean Production Data Again

Beijing De Runlin March 23 news: According to the oil industry headquarters in Hamburg, Germany, "oil world," said that recent rains affect the 2011 Brazilian soybean harvest yield and quality, so in 2011 Brazil's soybean production may be from the previous forecast of 7000 -71 million tons fell to 6900-70 million tons.

Oil World pointed out that the final soybean production in 2011 may even be lower than the previous year's 68.6 million tons.

In February 2011, Oil World had stated that Brazil's soybean production in 2011 may reach 72 million tons. However, recent rains in Brazilian soybean producing areas have affected the harvest of soybeans.

On the 15th of March Oil World once reduced the Brazilian soybean production data to 70-71 million tons.

Oil World said that the loss of soybeans may be about 1.3 to 2 million tons. Although as of the end of February, we had thought that soybean production is expected to hit a record high, but we currently think that soybean production may be between 6900 and 70 million tons, compared to earlier estimates of 71-72 million tons.

At the same time, the quality of Brazil's new beans is also worrying, because of continuous rainfall, soybean moisture content is very high. In addition, rainfall also disrupted transportation in inland areas and ports. Further delays in the export of Brazilian soybeans and manufactured products will result in the transfer of business to the United States.