Brazil storage deficit pressures soy premiums, may cause steep losses - Cogo
04/05/2023 18:54
SAO PAULO, May 4 (Reuters) - Brazil's historical storage
deficit has been aggravated by a bumper grain crop, pressuring
soy and corn premiums in one of the world's largest food
suppliers, according to Cogo, an agribusiness consultancy.
Speaking to reporters on Thursday, Carlos Cogo, Cogo's
partner and director, said Brazil's negative corn premiums may
result in losses of 11.5 billion reais ($2.30 billion) this year
for the sector while losses for the soybean industry are
estimated at 19 billion reais ($3.80 billion).
($1 = 4.9935 reais)
(Reporting by Roberto Samora
Writing byAna Mano)
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