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Brazilian soybean farmers face a storage crunch after the country's biggest harvest on record, with domestic inventories expected to hit a record according to Abiove. Local prices to growers are down 28% from a year earlier, and farmers are stashing beans wherever they can instead of selling.
A record Brazilian glut and weak farm-gate prices add export supply pressure on world soybean and meal markets, especially as Brazil's large corn crop arrives.
bloomberg.comTatiana FreitasJul 4, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
