Depressed prices will cause Brazilian soy complex export revenues to decline $7.3 billion in 2015, the Brazilian Oilseed Industry Association (Abiove) forecast.
The decline is bad for Brazil's trade balance, which has been propped up by agriculture -- and more specifically soy -- in the last couple of years.
Abiove predicts bean, meal and oil revenues will drop 23% to $17.8 billion next year, despite a larger crop.
The association, which includes the main international trading companies, estimates Brazilian soybean production will rise 5.4% to 91.0 million metric tons. The forecast is at the low end of local consultant predictions, ...