Vanguarda Agro SA, Brazil’s second- biggest publicly traded soybean producer, says it will post its first profit in 2014 as prices for the oilseed surge and it reaps more from its fields.
Ibovespa futures fell as raw materials slumped on signs of a slowdown in China, Brazil’s biggest trading partner.
Emerging-market stocks dropped, almost erasing a weekly gain, as China’s first onshore default sparked concern that swelling bad debt will weigh on global growth. Vale SA led a slide in commodity shares as metals fell.
Coffee futures topped $2 a pound in a surge to a 24-month high as drought conditions that started in January eroded prospects for crops in Brazil, the world’s top producer and exporter.
Brazil’s worst drought in four decades is raising the specter of energy rationing, and boosting revenue for companies including Fibria Celulose SA and Cosan SA Industria & Comercio.
Coffee futures surged to the highest in two years amid concerns that persistent dry weather will reduce output in Brazil, the world’s top producer and exporter.
Coffee futures posted the biggest monthly gain in almost two decades on mounting concern that abnormally dry weather will reduce the crop in Brazil, the world’s top producer and exporter.
Trafigura Beheer BV, the world’s second-biggest metals trader, is considering new investments in Brazil after gaining control of an iron-ore port as it expands operations in South America.
Sugar futures entered a bull market, climbing more than 20 percent from a January low, as dry weather threatens crop yields in Brazil, the world’s top producer and exporter.
Eike Batista’s MMX Mineracao & Metalicos SA mining unit completed the sale of a controlling stake in its Sudeste iron-ore port to Trafigura Beheer BV and Mubadala Development Co. for $400 million.