December 20, 2012

Paraguay may hit record high soy output this season

Paraguay could hit a record 8.6 million tonnes soy output this season, beating private and official forecasts, if good weather holds over the weeks ahead.

According to Monsanto, unlike neighbouring Argentina, where soy yields have been damaged by months of unusually heavy rain, Paraguay appears headed for a record crop. That would be good news for consumer nations punished this year by soaring grains prices as drought-hit US and Russian harvests failed to keep pace with demand.