Paraguay: Given a lower corn harvest expectation, a tough bid for the grain would open

Maize (Corn)
Grains, Cereal & Legumes
Market & Price Trends
Published Apr 24, 2024

Tridge summary

Paraguay's corn production is projected to decrease to 3.89 million tons in 2024 due to water stress and lack of rainfall, as reported by Plural Consultora. This decrease is expected to result in a tighter domestic market and lower stocks, potentially leading to a rebalancing of the internal market. Despite the lower production, exports are expected to play a role in the corn industry, with Brazil likely to be a key buyer. The price of corn is predicted to remain stable, around USD 150 to USD 160 per ton removed from the silos, with a balance of 4000 kg per hectare projected at the national level.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After a production of 5.5 million tons of corn in 2023 (including the Chaco harvest) and 6.4 million tons in 2022 (record year), when 4.6 million tons were exported and the market was more than supplied Internally, by 2024, Plural Consultora's projections indicate that Paraguay would harvest 3.89 million tons. This is due to the impact of the water stress suffered especially in the northern area of the Eastern region, which reduced its planting surface due to the lack of rainfall, while of the total implanted, 20% fell outside the ideal implantation window, which which implies a greater risk of experiencing frost. Báez indicated that although a smaller harvest is estimated, the internal market would find a reconsideration due to the lower stock; However, exports will play another role because there will be a bid in the corn industry. He maintained that Brazil will always be an important buyer for Paraguayan corn and could boost prices. “The market that will be most absent is going ...
Source: Productivacm
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