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Newsom: USDA Report Analysis
Darin Newsom DTN Senior Analyst
Tue Sep 30, 2014 01:58 PM CDT

The number flashed neon when it came across the screen -- Q4 soybean stocks of 92 million bushels. One wouldn't have been blamed for rebooting one's quote screen, or rubbing one's eyes, just to make sure they were seeing what they thought they saw. USDA taking soybean ending stocks below the 100 mb level is not something that happens every quarter, or every year, or every 40 years, for that matter. In fact, the last time it occurred was at the end of the 1972-1973 marketing year when total demand of 1.283 billion bushels used up all but 60 mb ...

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