AG POLICY NEWS
Large Global Soy Supplies? Malarkey!
Todd Hultman DTN Grains Analyst
Thu Feb 20, 2014 07:08 AM CST

According to USDA's February WASDE report, global ending stocks of soybeans will total 73 million metric tons, or 2.683 billion bushels, in 2013-14, the most ever. Nearly every discussion of soybeans in the media lately refers to large bearish amounts of soybean supplies in South America to the point that it is now considered common wisdom. However, before we give up all hope on the outlook for new-crop soybeans, I have a nagging question. If there are so many soybeans in South America, why has China bought 1.03 billion bushels of soybeans from the U.S. since November and virtually none ...

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