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Brazilian farmer optimism high with increasing soybean prices and cheap credit

Farm equipment manufacturers in Brazil are expecting strong sales this year, boosted by a second straight bumper soy crop and rising grain prices, which will more than offset weakness in the sugar cane sector, giving Brazilian grain farmers a new found optimism. Some machinery producers are forecasting sales growth as high as 8% in 2018 as farmers’ confidence rises and record-low interest rates encourage them to borrow and invest. “In the end, it all comes down to the price of soybeans. If that is good,…