The expansion and intensification of agriculture is a major driver of deforestation in tropical forests and for global climate change. However, over the past decade Brazil has significantly reduced its deforestation rates while simultaneously increasing its agricultural production, particularly cattle and soy. While, the scholarly literature primarily attributes this success to environmental policy and global economic trends, recent ethnographic depictions of cattle ranchers and soy farmers offer deeper insight into how these political and economic processes are experienced on the ground. Examples demonstrate that policy and markets provide a framework for soy farming and ranching, but emerging forms of identity and new cultural values shape their practices. This article argues that to understand the full picture of why Brazil’s deforestation rates have dropped while the agricultural industry has flourished, the culture of producers must be present in the analysis.