Early sales of fertilizer in Brazil indicate an increase of soybean acres for 2019. Brazilian Agriculture Consulting owner Kory Melby cites Brazil’s national fertilizer association which is reporting a 25 percent increase year-over-year for April fertilizer sales. “Historically, that gives us a leading indicator as to how much Brazil is planning to expand for the year to come.” Brazil’s currency valuation is also playing into higher Brazilian soybean prices. USDA is currently expecting a 1.5 million hectare increase in soybean area in Brazil for the 2019 crop.
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