# Brazil farmers 'hope for a miracle,' hoard soybeans

> Brazilian soybean farmers are hoarding their record crop, expected to exceed 110 million tonnes, hoping prices will recover. Domestic prices at Paranagua fell to 64 reais per 60-kg bag, more than 30 percent below the June record high.

- Date: 2017-04-11 · published 2017-04-11T12:00:00.000Z
- Category: market · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/71529-brazil-farmers-hope-for-a-miracle-hoard-soybeans
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Reduced farmer selling slows port flows and tightens near-term export availability, but analysts warn that the hoarding strategy could backfire if prices keep falling, adding downside risk to soybean and meal values.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/us-brazil-soybean-sales-analysis-idUSKBN17D2JM/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.