(Bloomberg) -- Brazilian farmer Antonio Carlos Jacobsen usually buys fertilizer a few weeks before planting his corn fields. Soaring fertilizer prices are pushing him to move up purchases for the March seeding -- although it may already be too late.Most Read from BloombergThe World’s Rich and Powerful Are Stashing $500 Billion in This Tax HavenWhat Comes After GE’s 129 Years of Greenhouse GasWhat the Front Line of the U.S. Abortion Fight in Kentucky Looks Like Now“We were caught by surprise with
The first bulk U.S. soybean cargo from the Texas Gulf Coast in about six months was loaded and shipped last week from a Cargill Inc terminal, in a sign of shifting trade flows in the wake of Hurricane Ida, traders and shipping sources said. The vessel Spar Rigel was loaded early last week with about 55,000 tonnes of soybeans at Cargill's Houston terminal, an outlet that typically loads mostly wheat and sorghum grown nearby, according to a shipping vessel lineup seen by Reuters. The uncommon shipment is the first of several soybean cargoes expected to load at Cargill's Texas facility this autumn after one of the company's two terminals at the Louisiana Gulf Coast - the country's top outlet for corn and soy shipped down the Mississippi River - was severely damaged by Ida on Aug. 29.
U.S. pesticide and seed maker Corteva Inc will take up to three times longer to break into Brazil's genetically modified soy seed market than it did in the United States, where Corteva's sales grew rapidly in recent years, the company said. Corteva is launching new genetically modified (GMO) soy seeds in top soybean grower Brazil, where rival Bayer AG has enjoyed a virtual monopoly since planting of GMOs began in the early 2000s.