Exchange Rates, Soybean Supply Response, and Deforestation in South America

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Does intensification slow crop land expansion or encourage deforestation (2014, background): “Richards et al (2012) examined historial trends in soybean prices, exchange rates, and cropland dedicated to soybean in Bolivia, Paraguay and Brazil, finding that 8 Mha of soybean production in these countries, or 31% of the current area, was developed as a supply response to the devaluation of…”
Designing and Implementing Effective REDD + Policies: A Forest Transition Approach (2013, background): “2010), a decline in soy and beef prices between 2004 and 2006, and, finally, an appreciating real exchange rate that has made Brazilian soy and beef less competitive in international markets (Richards et al. 2012).”