Brazil’s forward sales of commodities such as grains and sugar have nearly ground to a halt as producers, trading companies and consultants assess the impact of the possible impeachment of President Dilma Rousseff. After a year-long boom in sugar and corn exports, commodity merchants and farmers are bracing for continued strengthening of the real if Rousseff is ousted, reducing the price advantage of Brazilian commodities and possibly curbing foreign sales. The Brazilian currency has rallied in recent weeks, despite a deep economic crisis, amid investors’ hopes the left-leaning Rousseff will be replaced by a more business-friendly administration.
