USDA did not sugarcoat the impact that the current trade disputes could have on U.S. soybeans by decreasing exports. USDA now projects 2108/19 soybean exports 250 million bushels lower at 2.2 billion bushels. As a result, 2018/19 ending stocks are now forecast to rise to a record 580 million bushels.

Soybean ending stocks

Source: USDA
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