Apr 04, 2024

Paraguay Soy Estimate Down Slightly, Safrinha Corn Needs Rain

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The 2023/24 soybean harvest is complete in Paraguay and according to the director of DASAGRO, Ester Storch, yields of the last soybeans harvested ended up being below initial expectations.

At the start of February when the harvest was half complete, Storch estimated the 2023/24 production at 10.6 million tons. By the time the harvest was complete, the estimate was lowered to 10.25 million tons. The 2023/24 soybean crop still ended up being the second largest soybean crop in Paraguay after the 10.38 million tons produced in 2019/20.

For the safrinha soybeans and safrinha corn, problematic weather has hampered crop development, especially for the corn. Most of the safrinha soybeans are produced in the southern part of the country where the weather has been better. Most of the safrinha corn is produced further north where the recent rainfall has been below normal.

The safrinha soybean crop in Paraguay is estimated at 0.88 million tons. The safrinha corn yield is estimated at 91.6 sacks per hectare (87.3 bu/ac) down from the initial estimate of 108.3 sacks per hectare (103.3 bu/ac).

Sales of soybeans and corn have been slow in Paraguay as farmers wait for higher prices that would allow them to sell their crops at above the cost of production.