Farmland prices in Brazil have been on a similar trajectory to values in the U.S.
Michael Cordonnier with Soybean and Corn Advisor says Brazilian farmers have enjoyed record-high corn and soybean prices the past two years, encouraging expansion mainly in devalued pastures converted to row crops.
“So the area that’s already been cleared is very valuable because everybody wants to expand their production, and not so much for deforestation of the Amazon areas.
