StoneX Group Inc. (SNEX) saw its shares plummet 5% intraday on Monday following a downward revision of its outlook for Brazil's 2025/26 soybean and corn crops.
The consultancy firm reduced its soybean production forecast by 0.9% to 177.2 million metric tons, citing irregular rainfall in key producing regions like Mato Grosso and Goias. Similarly, its corn crop estimate was cut by 0.6% to 134.4 million tons, with delays in the soybean cycle potentially affecting planting schedules.
The revision reflects ongoing challenges in Brazil's agricultural sector, which could impact StoneX's business performance and investor sentiment.
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