Paraguay soy crop may set record as harvest enters final stage

By Daniela Desantis

ASUNCION, Feb 12 (Reuters) - Paraguay’s 2025/26 soybean crop is on track to exceed 10 million metric tons and could become the largest in the country’s history, analysts and producers said, as the summer harvest approaches its final phase.

Agricultural consultancy StoneX revised its estimate for the crop harvested between October and February to 10.14 million tons, up from a previous estimate of 9.65 million tons, placing the crop “among the best ever recorded” in the landlocked South American producer, it said in its February report.

Analysts said the final production tally will hinge on the smaller second crop, or "zafrina," harvested between April and May. If that harvest reaches 1.39 million tons, within the average range, and StoneX's latest estimate is realized, total output would reach 11.53 million tons, setting a new national record.

Paraguay is among the world’s largest soybean exporters behind Brazil and the United States, with shipments mainly moved by Cargill, Viterra, and ADM.

Paraguay exported 6.4 million tons of soybeans in 2025, with 80% shipped to Argentina and 14% to Brazil, the grain exporters’ chamber CAPECO said in its latest report.

Paraguay cannot export directly to China due to its diplomatic ties with Taiwan. Most of its crop is shipped to crushing plants in neighboring Brazil and Argentina and exported as soybean meal and oil, including to China.

The UGP, one of Paraguay’s most influential farm groups, said favorable weather would drive production beyond last season’s 10 million tons.

“Actual yields are very good and the late harvest is moving well," said UGP President Hector Cristaldo.

"We will definitely have a better year than last year,” he added, estimating that the harvest is 60% complete across 3 million hectares planted.