NEWS
Alastair Stewart South America Correspondent
Fri Apr 25, 2014 11:46 AM CDT

Brazil's Farmers Sit on Soy

In no desperate need of cash after five profitable harvests, Brazilian farmers aren't selling their soybeans, instead holding out for possible price rallies during the U.S. weather market.

With the Brazilian soybean harvest drawing to a close, farmers have sold 60% of their 2013-14 crop, down from 66% last year, according to Celeres, a local farm consultancy.

Sales remain in line with five-year averages but would have been lower were it not for crop losses. Dry weather in the south, southeast and Goias state meant Brazil produced just 86.1 million metric tons in 2013-14, according ...

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