Brazil soy farmers delay new-crop sales due to low prices

Brazil soy farmers delay new-crop sales due to low prices

Brazil's Mato Grosso soybean producers have sold less of their new-crop beans so far than they did last year, when sales were already late compared with long-term averages, as they hoard grains in the hope of better prices ahead. Despite the prospect of another bumper soy crop, a drop of domestic prices following Chicago futures and as a result of an appreciation of the Brazilian currency reduced farmers willingness to close forward sales, they said to people taking part in a crop tour in the leading grain producing state this week.
 

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