U.S. Drought Boosts Brazilian Agriculture

By Andrew Willis, Contributing Reporter

RIO DE JANEIRO, BRAZIL – While consumers across the globe are currently struggling with higher food prices caused by the worst U.S. drought in half a century, Brazilian farmers are enjoying bumper sales and a surge up the agricultural league tables.

The latest piece of evidence came last week when the International Grains Council predicted in a monthly update that Brazil would overtake the U.S. as the world’s top soy producer in 2012-2013.

The council raised its forecast for Brazil's soybean crop in 2012-2013 by one million tonnes to 76 . . .

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