USDA predicts that soybean production will increase slightly in Paraguay

Published Jun 20, 2024

Tridge summary

The USDA projects that Paraguay's soybean production for the 2023/2024 campaign will increase by 1.9% to 10.7 million tons, up from 10 million tons in the previous campaign. Despite challenges like adverse weather and uneven yields, the outlook remains positive. Brazil and Argentina are also expected to see higher soybean outputs. The region's first projection for the 2024/25 campaign anticipates a record 422.3 million tons, a 6.4% increase from the previous cycle. Rising international demand, especially from Japan, Mexico, and China, is expected to boost exports by 4.5%, with Brazil leading the way.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA estimated that the production of the new Paraguayan soybean campaign would exceed the 2023/2024 harvest by 1.9%, when 10.5 million tons of oilseed were reached, according to the latest reports. A harvest of 10.7 million tons would be consolidated. The precise results of the production of the last campaign in Paraguay are not yet known, but it is estimated that it could reach 10 million tons, according to data from the US Department of Agriculture. These numbers could indicate a good campaign. , despite adverse weather conditions and uneven yields, indicates La Nacion. The upcoming campaign is expected to be encouraging, especially for neighboring countries. Brazil would register an increase of 9.7%, which would reach 169 million tons, while for Argentina a growth of 2.0% is estimated, reaching 51 million tons. In general, for the entire region, the first projection for the 2024/25 campaign is 422.3 million tons (a record figure), which represents 6.4% more than the ...
Source: Agromeat
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