Swimming in Soybeans
Alan Brugler DTN Contributing Analyst
Fri May 10, 2013 05:54 PM CDT

Probably the most bearish and unexpected number in this morning's USDA Supply and Demand report was the projection that world soybean ending stocks in August 2014 would total a record 74.96 million metric tons. That is a 20% increase from this year's 62.46 mmt and represents a global stocks-to-use ratio of 27.7%. The current season stocks-to-use is projected to be 24.1%. Such a high stocks-to-use ratio has a negative impact on prices, with USDA showing a preliminary range for the U.S. cash average price in 2013/14 at $9.50-$11.50. The midpoint of $10.50 per bushel is a long way down from ...

Quick View
Related News Stories
Todd's Take
USDA Weekly Crop Progress
Labels to Note Tenderized
USDA Reports Summary
USDA Reports Summary
USDA Reports Flash
USDA Weekly Crop Progress
USDA Reports Preview
Groups Want USDA Investigated
View From the Cab