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Reuters
30-07-2025
- Business
- Reuters
Almost all farmers blocked by Brazil's 'Soy Moratorium' cleared land illegally, traders' study finds
SAO PAULO, July 30 (Reuters) - Almost 98% of the farms that are blocked by Brazil's "Soy Moratorium," a corporate agreement that seeks to protect the Amazon rainforest, cleared land illegally in Mato Grosso state, according to a study commissioned by oilseed lobby Abiove, which oversees the pact. Under the moratorium, a two-decade-old voluntary agreement, some of the world's top grain traders, such as ADM (ADM.N), opens new tab, Bunge (BG.N), opens new tab and Cargill, committed not to buy soy grown on land deforested after 2008, regardless of whether farmers had cleared land legally or not. Brazilian farmers, who in recent months have stepped up attacks against the moratorium, have long complained that the agreement blocks farmers who comply with environmental rules, which bar farmers from clearing more than 20% of properties to grow commercial crops in the Amazon after 2008. But the new study, which was obtained by Reuters exclusively, shows that only 50 of the 2,168 farms that were blocked by the moratorium in Mato Grosso, Brazil's largest soy producer, had authorization from the government to clear plots where they now grow soy. Another 440 farms deforested more land than they were authorized to clear, moratorium data for Mato Grosso showed. Aprosoja-MT, which represents the state's farmers, said it could not comment on the study because it did not have access to its findings. It said the debate over the soybean moratorium is not environmental, but rather of a competitive nature. "The moratorium is commercially biased and excludes soybean producers from exercising their right to sell their product, imposing a rule that violates our legislation and our national sovereignty." The study, which covers the 2022/23 harvest, used proprietary moratorium data as well as federal and state databases to show that the agreement currently blocks soy farms covering 614,495 hectares (1.518 million acres), representing 5.25% of Mato Grosso's soybean area. Soy now covers 11.7 million hectares (28.9 million acres) in the state, half of which sit in the sensitive Amazon biome, which is essential for the global struggle to curb climate change and biodiversity loss. Scientists say that the moratorium was successful in stopping much of the soy-driven deforestation in the Amazon. Mato Grosso produced 51 million tons of soybeans in 2024/25, nearly a third of Brazil's output. Brazilian farmers have launched multiple legal challenges against the moratorium and also persuaded state legislators in Mato Grosso to pass new laws to weaken the program.
Yahoo
18-07-2025
- Business
- Yahoo
Soybeans Posting Friday Gains
Soybeans are trading with 8 to 8 cent gains at midday, backing off from early double digit gains. The cmdtyView national average new crop Cash Bean price is up 6 ½ cents today at $9.89 3/4. Soymeal futures are $3.70 higher, while Soy Oil is 26 points lower in the front months. Soybean export commitments are now at 50.648 MMT, which is now 100% of USDA's full marketing year projection and lagging the 102% average. More News from Barchart Coffee Prices Retreat Due to a Stronger Dollar Cocoa Prices Finish Sharply Lower as Global Cocoa Demand Craters Dollar Strength Sparks Long Liquidation Pressures in Coffee Futures Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Abiove left their estimate for the Brazilian crop at 169.7 MMT, while increasing their crush number by 0.3 MMT to 57.8 MMT and taking exports 0.8 MMT higher to 109 MMT. Following suit from USDA last week, the Rosario Grains Exchange raised their Argentina soybean crop estimate by 1 MMT to 49.5 MMT. Aug 25 Soybeans are at $10.27 1/2, up 6 cents, Nearby Cash is at $9.89 3/4, up 6 1/2 cents, Sep 25 Soybeans are at $10.19 1/4, up 7 1/4 cents, Jan 26 Soybeans are at $10.51 3/4, up 8 cents, New Crop Cash is at $9.85 1/4, up 8 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
18-07-2025
- Business
- Yahoo
Soybeans Rallying on Friday Morning
Soybeans are continuing the push back in the direction if the spring highs, with contracts up 10 to 12 cents across the nearbys. Price action rounded out the Thursday session with contracts up 5 to 8 cents. Preliminary open interest data showed some slight short covering, down 2,023 contracts. The cmdtyView national average new crop Cash Bean price was up 7 ½ cents today at $9.83 1/4. Soymeal futures were mixed, closing 80 cents lower to 30 cents higher, while Soy Oil was 97 to as much as 147 points higher in the front months. Crude oil was up $1.21/barrel to provide some assistance. On Thursday, USDA indicated that old crop bean sales totaled 271,900 MT for the week ending July 10, with net sales of 529,600 MT for 2025/26 marketing year delivery. Both were thus within trade expectations. Combined old and new crop soy meal bookings totaled 530,500 MT. Soy oil export sales were a market neutral 7,900 MT, but well above the 4 week moving average. Venezuela and Mexico were the primary destinations. More News from Barchart Coffee Prices Retreat Due to a Stronger Dollar Cocoa Prices Finish Sharply Lower as Global Cocoa Demand Craters Dollar Strength Sparks Long Liquidation Pressures in Coffee Futures Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Abiove left their estimate for the Brazilian crop at 169.7 MMT, while increasing their crush number by 0.3 MMT to 57.8 MMT and taking exports 0.8 MMT higher to 109 MMT. Following suit from USDA last week, the Rosario Grains Exchange raised their Argentina soybean crop estimate by 1 MMT to 49.5 MMT. Aug 25 Soybeans closed at $10.21 1/2, up 8 cents, currently up 10 ¾ cents Nearby Cash was $9.83 1/4, up 7 1/2 cents, Sep 25 Soybeans closed at $10.12, up 6 1/4 cents, currently up 11 1/2 cents Jan 26 Soybeans closed at $10.43 3/4, up 6 3/4 cents, currently up 12 cents New Crop Cash was $9.78 1/1, up 5 3/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
17-07-2025
- Business
- Yahoo
Soybeans Pushes Higher on Spillover Support from Bean Oil
Soybeans rounded out the Thursday session with contracts up 5 to 8 cents. The cmdtyView national average new crop Cash Bean price was up 7 ½ cents today at $9.83 1/4. Soymeal futures were mixed, closing 80 cents lower to 30 cents higher, while Soy Oil was 97 to as much as 147 points higher in the front months. Crude oil was up $1.21/barrel to provide some assistance. This morning, USDA indicated that old crop bean sales totaled 271,900 MT for the week ending July 10, with net sales of 529,600 MT for 2025/26 marketing year delivery. Both were thus within trade expectations. Combined old and new crop soy meal bookings totaled 530,500 MT. Soy oil export sales were a market neutral 7,900 MT, but well above the 4 week moving average. Venezuela and Mexico were the primary destinations. More News from Barchart Bears Have the Advantage as Arabica Coffee Falls. Here Are the Levels to Watch Before You Sell. Arabica Coffee Resumes Climb on Dry Brazil Weather Cocoa Prices Fall on Expectations for Weak Q2 Demand Figures Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Abiove left their estimate for the Brazilian crop at 169.7 MMT, while increasing their crush number by 0.3 MMT to 57.8 MMT and taking exports 0.8 MMT higher to 109 MMT. Following suit from USDA last week, the Rosario Grains Exchange raised their Argentina soybean crop estimate by 1 MMT to 49.5 MMT. Aug 25 Soybeans closed at $10.21 1/2, up 8 cents, Nearby Cash was $9.83 1/4, up 7 1/2 cents, Sep 25 Soybeans closed at $10.12, up 6 1/4 cents, Jan 26 Soybeans closed at $10.43 3/4, up 6 3/4 cents, New Crop Cash was $9.78 1/1, up 5 3/4 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
13-07-2025
- Science
- The Star
Greenwashed and growing
BRAZILIAN soy farmers are pushing deeper into the Amazon rainforest, threatening a landmark deal meant to slow deforestation. Many are capitalising on a loophole in the Amazon Soy Moratorium, a voluntary pact signed in 2006 by the world's top grain traders, pledging not to buy soy grown on land deforested after 2008. The moratorium protects old-growth rainforest, but excludes secondary forests – vegetation that regrew after land was previously cleared. Though crucial to the Amazon's health, these areas can be legally razed and planted with soy, all without violating the deal's terms. The resulting crops can even be marketed as 'deforestation-free'. The most recent moratorium report, covering the 2022–2023 season, showed soy planted on virgin forest had nearly tripled since 2018 to reach 250,000ha – 3.4% of all soy grown in the Amazon. But the actual figure may be much higher. Xiaopeng Song, a University of Maryland geographer who has tracked soy expansion, found more than 1.04 million hectares – or 16% of soy-planted land in the Brazilian Amazon – had been deforested since 2008. His satellite data suggest four times the forest loss reported. 'I would like to see secondary forest and recovered forest included in the moratorium,' Song said. 'It creates loopholes if we only limit it to primary forest.' Abiove, the soy industry body overseeing the agreement, said the moratorium was designed to curb destruction of old-growth forests. Broader definitions used by other studies could lead to 'inflated interpretations', it added. The report's figures are based on data from Brazil's National Institute for Space Research, which is internationally recognised and independently monitored. Abiove admitted some soy is planted on land where regrown forests had been cleared – but has defended the current framework. A chain, normally used connected to tractors to fell down trees at the last stages of clearing land, lying in a field. — Reuters Shrinking buffer The distinction between primary and secondary forests carries serious consequences. Secondary forests may be younger and initially less biodiverse, but they play a critical role in absorbing carbon and restoring damaged ecosystems. 'Secondary forests are crucial to limiting global warming,' said Viola Heinrich, a researcher at the GFZ Helmholtz Centre for Geosciences. 'We cannot achieve the goals of the Paris Agreement without actively increasing the carbon sink.' While they store less carbon than primary forests, secondary forests absorb it faster, making them vital in slowing the Amazon's drift towards a tipping point – when deforestation, heat and drought could trigger its irreversible transformation into a dry savannah. Most scientists now argue that stopping deforestation alone isn't enough; reforestation is essential. 'Stolen again' Late last year, under blistering heat on the edge of Santarem, a port city on the Amazon River, farmers were clearing land – stacking tree trunks in neat rows, ready to burn. Satellite images showed this was once cattle pasture that had regrown into secondary forest over three decades. 'What can be stolen once can be stolen again,' said Gilson Rego, of the Pastoral Land Commission, a church-linked group that works with locals impacted by deforestation. He pointed to nearby soy fields that had been planted in the past five years. The area's rapid transformation is largely due to the Cargill grain terminal, which offers easy export access – cutting logistics costs and fuelling the soy boom. Cargill did not respond to requests for comment. The surge helped Brazil overtake the United States in 2020 as the world's top soy exporter. About two-thirds of Brazil's soy goes to China, where major buyer Cofco, a signatory to the moratorium, claims it remains committed to the deal. Nearly all the soy is used as animal feed for global meat production. Still, Song estimates that without the moratorium and related conservation efforts, an additional six million hectares of forest might have been lost to soy in Brazil. By comparison, neighbouring Bolivia, which lacks such controls, has become a deforestation hotspot. A rural cemetery surrounded by a soy field where soybean farming expanded in the Amazon. — Reuters Pressure to backslide Brazilian farmers have long opposed the moratorium, arguing it unfairly penalises them. Even minor infractions can lead traders to block purchases from entire farms – a policy Abiove is considering relaxing. Roughly 10% of Amazon soy farmland is currently blacklisted. 'It's not fair that countries in Europe can deforest to grow, and now we're held back by laws that aren't even ours,' said Adelino Avelino Noimann, vice-president of the soy farmers' association in Para state, which includes Santarem. Farming groups allied with right-wing politicians have ramped up legal and legislative attacks on the moratorium in Brasilia and across several agricultural states, seeking to dilute its protections. In April, a Supreme Court justice said Brazil's largest soy-growing state, Mato Grosso, could withdraw tax breaks from companies that honour the moratorium – a move yet to be confirmed by the full court. Abiove president Andre Nassar told senators that the agreement's rules might need to be watered down to placate growers: 'The solution is not ending the moratorium or keeping it as it is. Something needs to be done.' Global traders – including ADM, Bunge, Cargill, Cofco and Louis Dreyfus Company – have remained tight-lipped. But Greenpeace, which takes part in some discussions, said there's pressure behind the scenes to weaken the deal. Even so, environmentalists say the moratorium remains vital. 'We still see the expansion of soy in the Amazon,' said Andre Guimaraes, executive director of IPAM, an environmental research group. 'But it could be worse.' Soy vs schools The rich soil and ample water of the Amazon have drawn farmers from across Brazil, particularly from Mato Grosso, the soy heartland. 'Here, we can have as many as three harvests,' said Edno Valmor Cortezia, head of the local farmers' union – rotating soy, maize and wheat on the same plot in a single year. In Belterra, near Santarem, soy fields have crept up to a school and even a cemetery. Raimundo Edilberto Sousa Freitas, the school principal, showed court records from two pesticide incidents last year that affected 80 students and teachers. One farmer was fined, but soy continues to sprawl through the area. Occasionally, a few lone trees – protected by law – stand in vast expanses of soy, the last hints of the vibrant biome that once covered the region. — Reuters
