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Farmers Are Selling Brazilian Soy Two Years Ahead

Majority of sales are related to barter trading with farmers getting fertilizers, chemicals before planting

File Photo
File Photo

Farmers in Brazil, the world’s biggest soybean producer and exporter, are locking in sales two years in advance with local currency prices rising to a record.

The institute of agribusiness in Mato Grosso, the top state grower, said 1.3% of the production for reaping in 2022 was sold at the end of July amid a murky outlook for economies and currencies.

Selling crops for delivery in two years “is unprecedented,” Daniel Latorraca, a superintendent at Imea, the state’s rural economy institute, said in the report at MSN.

The majority of the sales are related to barter trading with farmers getting fertilizers and chemicals before planting in exchange for part of the harvest.

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