Brazil’s farmers dump sugar for soy as trade war boosts Chinese demand

A corn crop is seen at Cercado Grande farm, where expansion of grains cultivation led the farm to scrap a contract with a sugar mill for cane planting in Itajai, Sao Paulo state, Brazil April 1, 2018. REUTERS/Marcelo Rodrigues Teixeira

ITAƍ, Brazil (Reuters) – Last year, Brazilian farmer Gustavo Lopes sized up his sugarcane plantation against his soybean fields. He looked at global trends, including rising U.S.-China trade tensions and a stubborn sugar-market glut. Then he tore up the last of his cane fields and ditched a decades-old supply contract with a local sugar mill. […]

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