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
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...
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