Brazil's 2009-10 Soy Harvest At 99% As Of May 7 - Celeres

Brazilian farmers harvested 99% of the upcoming 2009-10 soy crop as of May 7, local agricultural consultancy Celeres said in a weekly report.

Brazilian farmers in key regions progressed from 97% harvested as of April 30 and 96% at the same time a year ago, Celeres said Monday.

Brazil's soy harvest also remains ahead of a five-year average of 96% of soy harvested at this time of year, 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.

Soy farmers in Mato Grosso, the No. 1 soy-producing state, and the entire center-west soy belt have completed their harvesting. In Parana, Brazil's No. 2 soy-producing state, farmers have also completed their harvest.

While in Rio Grande do Sul, the No.3 soy producing state, farmers have harvested 99% of their beans as of May 7 versus 96% the week before, Celeres said.

Celeres said 53% of the 2009-10 soy crop had been sold as of May 7. That was up from 50% the week before and down from 61% at the same time a year ago. Soy sales trail a five-year average of 64%.Brazil is the world's No. 2 soy producer after the U.S.

Source: CME Group with reference to Celeres