USDA is currently projecting record soybean ending stocks of 885 million bushels. However, this number could be underestimated without China’s demand. The current projection depends on 2018/19 exports decreasing just 69 million bushels or 1.88 million metric tons (MMT) from the previous season. However, China bought 33 MMT of U.S soybeans last year. Slow demand paired with a huge crop 6.3 percent above last year means that if the trade dispute continues, soybean fundamentals will be very bearish for some time to come.
Not enough demand for a large soybean crop in 2018/19
Posted by: Information Services
By admin|October 26, 2018|Categories: Corn & Soy Complex|Tags: China, ending stocks, soybeans, United States, USDA|0 Comments
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