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Paraguay soybean exports to exceed Argentina's

16 July 20181 min reading
Paraguay is forecast to export more soybeans than neighboring grains powerhouse Argentina for the first time this year as growers in the smaller country push to increase output and fill the supply gap left by a drought on the Argentine Pampas. Paraguay produces around 3.0 percent of global supply. Land-locked Paraguay sends most of its soybean exports next door to Argentina, the world’s top supplier of soymeal livestock feed. Paraguayan beans are known for their high protein content, making them especially attractive to soymeal manufacturers. Argentina’s soy crushers have brought in cargoes from as far afield as the United States to compensate for a drought that cut soy output estimates at home to less than 40 million tons from early forecasts in the 55 million ton range. Argentina crushes almost all its soy rather than exporting raw beans.
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