Wednesday, June 10, 2009

Breaking News-RTRS-Oil World expects tight Brazilian soybean supply

HAMBURG, June 9 (Reuters) - A poor soybean crop this year coupled with high exports and domestic consumption are likely to make Brazilian soybean supplies tight on international markets in coming months, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
It forecast Brazil's harvest will fall to 57.4 million tonnes of soybeans in early 2009, down from 60.0 million tonnes in early 2008.
Despite expectations of a lower crop, Brazil's February/May 2009 soybean exports shot up to 12.5 million tonnes from 9.6 million tonnes in February/May 2008, it said.