CROPS NEWS
A Look at New-Crop Soybeans
Todd Hultman DTN Grains Analyst
Tue Jun 3, 2014 06:30 AM CDT

USDA is expecting the U.S. to produce a record high 3.635 billion bushels of soybeans this fall and, so far, those plans are on track. USDA said on June 2 that 78% of the soybean crop was planted and 50% of it had emerged, close to the five-year average pace. If the 2014-15 season closed in line with USDA's May estimates, U.S. ending stocks at 9.6% of annual use would be significantly higher than the current season's record low of 3.8% and correspond historically with March 2015 soybean prices at roughly $11.65 a bushel. Actual market prices can diverge a ...

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