Heat oil on medium in a large pot and brown beef in batches. Return beef cubes to pot, add onions, sprinkle with flour and cook 5 minutes.
Add water, wine, Cubitos En Polvo, ham concentrate, Sofrito, Adobo and sugar. Bring to a boil, stirring. Lower heat, cover and simmer for 1 hour.
Stir in carrots, parsnips and potatoes and simmer uncovered for 30 minutes. Stir in beans and cook 15 minutes more.