StoneX confirms expectation of Paraguayan soybeans reaching 9.25 million tons

Published Nov 6, 2024

Tridge summary

StoneX has confirmed its forecast of Paraguay's main soybean harvest for 2024/25 at 9.25 million tons, with 99% of hectares planted in the Eastern Region. The company also expects secondary crop production, with second-season soybeans at 1.2 million tons and second-season corn at 4.71 million tons, totaling 10.52 million tons for the harvest. The average cost per hectare is estimated at US$650, and lease values vary greatly across regions. The profitability of the cereal crop is raising concerns due to the high cost of corn seed, and the delay or advance of the soybean harvest won't be known until the end of the year.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

With work focused on planting, and 99% of hectares planted in the Eastern Region, StoneX confirmed its estimate of soybeans for the main 2024/25 harvest in Paraguay at 9.25 million tons. Regarding the marketing of the new harvest, while some institutions indicate that around 20% are committed to date, only 12% are effectively fixed. It is worth clarifying that committed soybeans are those with open contracts, which may or may not be fixed until the end of April, when the tax cut usually occurs due to the due date of bills. Fixed soybeans are those whose future prices were locked in through financial operations on the Chicago Stock Exchange. In Paraguay, soybeans and second-season corn await the main soybean harvest calendar With a focus on the main oilseed crop, StoneX maintains production estimates at 1.2 million tons for second-season soybeans and 4.71 million tons for second-season corn StoneX reinforced its expectations for crops that depend on the development of the main ...

Source: NoticiasAgricolas