Gestão financeira no agronegócio : mercados futuros de commodities como fonte de financiamento e atenuação de riscos.

Abstract

Based on the need to find alternatives for rural financing, due to the restriction of resources made available by the government over the years, this monograph aims to analyze the contribution of private sources of financing, especially the participation of future commodity markets in Brazil. Based on the theoretical basis of finance and organizational financial planning, the objective of this research was to analyze the changes that occurred in the pattern of funding of Brazilian agribusiness activities, as the form of fundraising and mitigation of risks, through the private financial system and mainly Commodities and futures exchanges. To do this, we sought to identify and understand the mechanisms used to finance agriculture from the 1990s, as well as to present the new sources used by the sector since the reduction of the resources of government programs at that time. This allowed the development of an analysis of the role of the private financial system, such as commodity futures markets in relation to Brazilian agribusiness, and finally, to evaluate the contribution of these markets to the financial management of agricultural enterprises. Through the monographic and bibliographic procedure, the collection of the information necessary to carry out the research led to the result that there is no evidence in any scientific publications that future commodity markets act as a mechanism for financing the agricultural activity. However, they are very efficient at the reduction of the financial risk related to the activity in question, since they allow the price fixing, enabling the agent to know its revenues and production costs.