SAO PAULO (Dow Jones)--Brazilian agribusiness consultants are pegging
Brazil's new 2008-09 Brazilian soy crop at between 57 million metric tons and
58 million tons.

  As a result, industry specialists said that Brazil's National Commodities
Supply Corp may raise slightly its estimate in March of 57.6 million tons for
the soybeans crop.

  Conab, as the agency is known, will issue its new 2008-09 crop estimate
Tuesday.

  "We expect Conab to make a small increase upwards based on
better-than-expected production in Brazil's center-west region such as in Goias
(state)," said Fernando Muraro, a soy analyst at consultancy AgRural.

  AgRural said Friday that Brazil should produce 58.6 million tons of soy
compared to its earlier estimate of around 57 million tons.

  Brazil's soy production has been helped by favorable weather, the analyst
said. For instance, in Goias farmers should produce around 6.2 million tons of
soy and have excellent yields, Muraro said.

  AgRural said that Brazil has harvested 59% of its soy crop as of Friday
compared to 52% the week before.

  Pedro Collussi, a grains analyst at Brazilian agricultural consultancy
AgraFNP, agreed that Conab is likely to adjust upwards its soy crop estimate to
around 58 million tons.

  Collussi said states such as Goias, Bahia, Rondonia and Piaui have all seen
good crops due to favorable weather.

  This compensated for losses in the southern state of Parana, he said.

  Parana, the No.2 soy producing state, reported heavy losses to its crop
production due to a prolonged period of drought at the end of 2008 and in early
2009.

  David Goncalves, a soy consultant at FC Stone, said that most estimates were
around 57 million tons. The weather conditions, however, have been good and the
upper estimate of 58 million tons is possible, he said.

  Brazil is the world's second leading soy producer, behind the U.S.