Biggest Soy Supplier Hangs Onto Beans After Missing Last Rally
- Brazil soy growers have slowed pace of sales versus last year
- Farmers are waiting even with local prices near all-time highs
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Soybean growers in Brazil, the largest shipper of the oilseed, are holding off on forward sales even as local prices approach all-time highs and a bumper crop is on the way.
About 28% of Brazilian soy to be harvested next year has been pre-sold compared with 44% a year earlier, according to MD Commodities in Chicago.