StoneX Group Inc. (SNEX) saw its stock plummet 5.00% during intraday trading on Monday, reflecting investor concerns following the company's downward revision of Brazil's 2025/26 soybean and corn crop forecasts.
The financial services firm cut its soybean production outlook by 0.9% to 177.2 million metric tons, citing irregular rainfall in key producing states like Mato Grosso and Goias. Similarly, its corn crop forecast was reduced by 0.6% to 134.4 million tons, with delays in soybean planting potentially affecting the second corn crop. The revisions highlight ongoing challenges in Brazil's agricultural sector, which directly impacts StoneX's commodities trading and consulting business.
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