The derivatives market is relatively new in the Brazilian agribusiness and aims, among others, to minimize risks in trading. Trading agricultural products is one of the most important stages of farming. Several studies have focused on changes in prices of products as a major source of risk for the farmer. On the other hand, it has been questioned why farmers do not use more widely the mechanisms of the derivatives market, to protect themselves against such risks. The objective of this study was to investigate the adaptation of these mechanisms to the attitudes of soybean farmers in order to reduce price risks, focusing on farmers of the region of Rio Verde, Goiás. Knowledge of farmers on derivatives was not dependent on education and the size of the planting area, but on years of experience in the activity. Choosing a mode for trading the crop was also not dependent on schooling, acreage, or even experience in the activity. The trading modes used by farmers to approach operators of derivatives, although infrequent, were diverse, being the local Cooperative the most sought after. On the other hand, under most farmers' view, derivatives do not meet their expectations to reduce price risks, even among those who use these trading mechanisms. Given the lack of information and suspicion pointed out by the farmers, in addition to an incipient direct relationship with derivatives brokers, it is suggested a change in the strategies and attitudes of brokers; they should seek approximation and commitment to the farmers, to clarify and facilitate a conscious decision-making on the use of derivatives.
Derivatives; risk management; trading of soybeans
