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Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers

Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers Reuters 2 hrs ago By Ana Mano © Reuters/Paulo Whitaker FILE PHOTO: Employees working at cargo ship Kypros Land which is loading soybeans to China at Tiplam terminal in Santos By Ana Mano SAO PAULO (Reuters) - Global grains merchants are using satellites and spies to surveil Brazil s soybean heartland and deploying an army of lawyers to ensure farmers deliver promised crops instead of finding a different buyer at prices that have doubled since deals were made. At stake are billions of dollars and the sanctity of crop contracts in Brazil, the world s top soy exporter accounting for roughly 50% of the global trade.

INSIGHT-Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers

INSIGHT-Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers Reuters 2 hrs ago SAO PAULO, May 3 (Reuters) - Global grains merchants are using satellites and spies to surveil Brazil s soybean heartland and deploying an army of lawyers to ensure farmers deliver promised crops instead of finding a different buyer at prices that have doubled since deals were made. At stake are billions of dollars and the sanctity of crop contracts in Brazil, the world s top soy exporter accounting for roughly 50% of the global trade. Soybeans have rallied to an eight-year high and Brazil soy exports have soared in particular, especially to China, which needs feed to rebuild a pig herd devastated by African Swine Fever.

Traders in Brazil face off with farmers as they default on deals

Traders in Brazil face off with farmers as they default on deals If farmers deliver, traders make the profits; if farmers can break their deals, they can double their income 03 May 2021 - 14:09 Ana Mano Soy beans. Picture: REUTERS/AGUSTIN MARCARIAN São Paulo Global grains merchants are using satellites and spies to surveil Brazil’s soybean heartland and deploying an army of lawyers to ensure farmers deliver promised crops instead of finding a different buyer at prices that have doubled since deals were made. At stake are billions of dollars and the sanctity of crop contracts in Brazil, the world’s top soy exporter accounting for roughly 50% of the global trade.

Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers

Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers
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