- freeimages.com/zeafonsoA study by the University of Sao Paulo says the depreciation of Brazilian currency will make up for the drop in grain prices.
A study by the University of Sao Paulo says the depreciation of Brazilian currency will make up for the drop in grain prices, which will benefit Brazil.
The study says export prices on soybeans should remain among the lowest since 2010, between $23.60 and $24.80. Soy oil prices are expected to fall from $794 per ton in January to $747 per ton by April, but the fall of the real against the U.S. dollar will compensate for the drop.
The study also predicted that the U.S., Argentina and Brazil will have record grain harvests in 2014-15. Another report by the National Agriculture Federation predicts a 2.7 percent increase in the gross value of Brazil’s farm production in 2015. Brazil’s harvest for 2015 is expected to be a record 200 million tons.