Brazil's 2009-10 Soy Harvest At 94% As Of April 23 -Celeres

Brazilian farmers harvested 94% of the upcoming 2009-10 soy crop as of April 23, local agricultural consultancy Celeres said in a weekly report.

Brazilian farmers in key regions progressed from 89% harvested as of April 16 and at the same time a year ago, Celeres said on Monday.

Brazil's soy harvest also remains ahead of a five-year average of 94% of soy harvested at this time of year, Celeres said.

The soy harvest in Parana, Brazil's No. 2 soy-producing state, was 99% complete as of April 23 versus 97% in the previous week and 99% a year ago.

Soy farmers in Rio Grande do Sul, Brazil's No. 3 soy-producing state, harvested 90% of their upcoming soy crop as of last week compared with 72% a week earlier and 78% a year ago, Celeres said. Rio Grade do Sul is traditionally one of the last states to complete its harvesting.

Heavy rains that disrupted the harvest in Parana and Rio Grande do Sul over the weekend and on Monday are expected to ease on Tuesday, weather service Somar said.

Elsewhere, soy farmers in Mato Grosso, Brazil's No. 1 soy-producing state, finished harvesting several weeks ago, Celeres said.

The country's harvest is expected to be a record 67.2 million metric tons of soybeans for the 2009-10 crop season compared with 57 million tons the previous crop year, Celeres said.

Celeres said 48% of the 2009-10 soy crop had been sold as of April 23. That was up from 45% the week before and 55% at the same time a year ago. Soy sales trail a five-year average of 60%.

Brazil is the world's No. 2 soy producer after the U.S.

Source: CME Group