Argentine and Brazilian commodities markets attempt to base international soy price on local reality
The intention of creating a unified operation was announced last week by the Brazilian Mercantile & Futures Exchange and by the Rosario Futures Exchange. Together both countries harvest more soy than the United States, the largest world producer. However, international commodity prices are dictated by the Chicago Board of Trade. According to specialists, if the deal works out, it may bring benefits in terms of the price calculation and reduction of the farmer risk due to oscillation.
By Mark Ament
