Brazil Probes Soy Traders as Amazon Pact Raises Cartel Worry (1)

Brazil’s antitrust regulator opened a probe into major soybean traders, saying an agreement focused on preventing deforestation in the Amazon forest raises the possibility of a purchasing cartel in the grain-export market.

The investigation directed at 30 soybean traders and two industry associations follows increasing pressure from farmers groups against the soybeans moratorium — a public commitment by traders to avoid sourcing soybeans from land deforested in the Amazon after 2008.

Among the traders included in the probe are units of Cargill Inc., Archer-Daniels-Midland Co., Bunge Global SA and other companies that comprise the so-called Soybean Working Group, ...