Maggi: Soy Planting May Fall

Blairo Maggi, the world’s biggest soybean farmer, said Brazilian soybean planting may decrease by a fifth next year and the purchase of fertilizer and other supplies may drop by half because of a strengthening domestic currency. The Brazilian real, which has gained 32 percent in the last year, needs to slide about 20 percent to 2.80 per dollar from 2.31 today for farmers to make enough money to maintain production levels, said Maggi.