Accustomed to seeing soybean prices slide in March with the arrival of the South American crop, Brazilian soybean farmers have been pleasantly surprised this month by rising local prices.
But the dream scenario has not prompted a rush to sell.
Indeed, the market has been markedly quiet over the last week as prices hit new peaks. Instead, farmers concentrate on harvesting their crop.
Brazilian farmers had sold 52% of the 2013-14 crop as of Friday, down from last year but ahead of the five-year average of 48%, according to Safras e Mercado, a local farm consultancy.
Soybeans were quoted at ...