Mar 23, 2016
Mato Grosso Farmers start Purchasing Inputs for Next Crop
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Farmers in Mato Grosso are already purchasing inputs for the 2016/17 soybean crop even though they have not yet finished harvesting their 2015/16 soybean crop. The Mato Grosso Institute of Agricultural Economics (Imea) estimates that the soybean crop in the state is 85% harvested and farmers are taking advantage of the stronger Brazilian currency to lock up their inputs.
Imea estimates that the cost of producing soybeans in the state next year will increase 12%, so farmers want to use the stronger currency to purchase their inputs in case the currency weakens again.