Breaking News-RTRS-Oil World cuts S.American 2009 soy crop forecasts

HAMBURG, Jan 27 (Reuters) - Forecasts for 2009 soybean crops in key exporters Argentina and Brazil were sharply cut because of drought, Hamburg-based oilseeds analysts Oil World said on Tuesday.
It now estimates Argentina will harvest 44.0 million tonnes of soybeans in early 2009, down from its previous estimate of 48.8 million and down from the 2008 harvest of 46.7 million.
It has cut its forecast of Brazil's 2009 crop to 57.50 million tonnes from its previous estimate of 59 million and down from 60.02 million tonnes harvested by Brazil in 2008.