Brazilian Soybean Harvest Starts

The Brazilian 2001-02 soybean harvest started last week in northern Mato Grosso province, with somewhere around 20,000 hectares (50,000 acres) reaped, OsterDowJones News Service (ODJ) reported Friday.

Bunge, Inc., the international grain trading giant, confirmed for ODJ that it had received the first load of 29,000 metric tons of 2001-02 soybeans Wednesday.

Farmers are said to have reported good initial yields, but the crops harvested are not representative of the harvest as a whole as they represent a very small portion of the state's total production.

ODJ said that producers had expected to harvest early-maturing soybeans before Christmas, but continuous rains before and during the festive season hindered efforts.

Harvesting is expected to hit full pace in northern Mato Grosso in mid-January, with soybeans reaching the export market in early February, according Anderson Galvao Gomez, analyst at Brazil's MPrado Consultoria.

However, most of Mato Grosso's harvest is expected to reach the market in March, as it usually does.

Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.

To see more market perspectives, visit Brock's Web site at www.brockreport.com.