A spate of farmer defaults in Brazil's top grain-producing state, Mato Grosso, has created headaches for global traders who are among farmers' main creditors. | File photo

Brazilian oilseeds group: Traders may cut farmer credit due to defaults

SAO PAULO, (Reuters) – Abiove, Brazil’s oilseeds industry group, said on Tuesday that commodities traders may reduce financing to farmers by around 50 percent for the new crop (2019/20) due to defaults and bankruptcy protection requests in the sector. Patrícia da Silva, Abiove’s tax and legal affairs manager, said the potential reduction in farmer loans […] Read more

The United States and Brazil on Tuesday announced steps aimed at lowering barriers to agricultural trade, focusing on wheat, pork and beef. The United States is Brazil's largest wheat supplier outside of Mercosur. | File photo

Brazil-U.S. wheat deal catches major supplier Argentina off guard

BUENOS AIRES/SAO PAULO, (Reuters) – Farmers in Brazil and Argentina are concerned about Brazilian President Jair Bolsonaro’s agreement to import 750,000 tonnes of wheat from the United States and other countries outside the Mercosur trade bloc without applying the 10 percent tariff that is usually levied on such purchases. Wheat growers in Argentina’s Pampas farm […] Read more