OMAHA (DTN) -- USDA raised a simple question when it dropped the soybean residual to -69 million bushels in the July 11 supply and demand report: How do you create soybeans out of thin air?
The answer is anything but simple. It's a mixture of mathematics and the relationship between two USDA crop forecasting agencies.
July's phantom soybeans will be found when all is said and done in September. In fact, they've probably been there all along, several analysts said, and they anticipate USDA will increase 2013 production in the September Grain Stocks report.
The soybean market plunged to near-limit ...