Vanguarda Sees First Profit in Shift to Soy: Corporate Brazil
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Vanguarda Agro SA, the Brazilian farm company that lost 97 percent of its value since going public in 2006, expects to make a profit for the first time this year by producing soybeans and corn after biodiesel projects folded.
Chairman Salo Seibel said Chinese demand for the crops that Vanguarda has been growing since last year will help it turn around five years of losses. The Asian country, which buys about two thirds of the world’s soybean exports to feed poultry and swine, has helped boost prices 43 percent in two years.