The Western Producer’s Sean Pratt reported on comments made by Soren Schroder, chief executive officer of Bunge Ltd. Pratt argued that many farmers, especially in South America, are holding on to crops, waiting for a price increase that isn’t coming and those crops will soon have to go to market.
He believes this will force produces both here in the United States and abroad to plant fewer acres and bring grain prices back to a comfortable balance. The report partly blamed Bunge’s poor performance this year for prices not reflecting the current grain glut.
