Market Overview

Soybean Futures Lower after USDA Supply and Demand Report

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The USDA World Agricultural Supply and Demand Estimates Report (WASD) was released yesterday. The USDA report showed soybean ending stocks at 435 million bushels versus 420 million a month ago. The agency estimate for global soybean ending stocks is 82.82 million tonnes versus 80.38 million tonnes a month ago.

The USDA sees Brazil's soybean production at 108.0 million tonnes. Argentina's soybean production was 55.5 million tonnes. China's soybean imports were revised up by 1 million tonnes to 87 million tonnes. Soybean futures traded choppy and mostly soft after the report on Thursday and are trading a little lower Friday morning.

May Soybeans are trading 1005 1/4, down 5 3/4 cents/bushel. November Soybeans are trading at 998 1/2, down 6 cents/bushel. May Soymeal is trading at 326.6, down 1.9 $/ton. May Soybean Oil is trading at 32.93, down 0.18 cents/lb.

Posted-In: USDA supply and demand reportFutures Commodities Markets

 

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