By Ana Mano SAO PAULO (Reuters) – Global grains merchants are using satellites and spies to surveil Brazil’s soybean heartland and deploying an army of lawyers to ensure farmers deliver promised crops instead of finding a different buyer at prices that have doubled since deals were made. At stake are billions of dollars and the sanctity of crop contracts in Brazil, the world’s top soy exporter accounting for roughly 50% of the global trade. Soybeans have rallied to an eight-year high and Brazil soy exports have soared in particular, especially to China, which needs feed to rebuild a pig herd devastated by African Swine Fever. […] It said the soy rally created challenges in Brazil, where it was able to enforce fulfillment of most disputed contracts and get the soybeans it had negotiated for. […] CJ Selecta had about 2,000 active Brazilian soybean contracts and more than 400 farms under surveillance, Reis said, to ensure farmers do not take soy to warehouses owned by another company that pays more.
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