Soybean Market Update (Jun 30, 2017)

CBOT soybeans are set for weekly rise. CBOT soybeans have increased more than 1 percent when both markets of corn and soybean turned low in the last week. For this month, soybeans are little changed. U.S. soybean demand did not provoked USDA to raise old crop exports in its June update. Friday's report will reflect U.S. grain and oilseed supplies as of June 1. The average trade estimations for soybean stocks as of June 1, 2017, is 983 million bushels.

March 1, 2017, soybean stocks were exactly 13 percent larger than on the same date one year earlier. This implies that analysts have assumed a similar rate of domestic soybean use relative to supply for the spring of 2017 as in the same period in 2016. As long as the stocks report are not rough for soybeans, USDA is likely to cut 2016/17 soybean estimations which are as high as 450 million bushels in its July update based on past habits. 

For more news and alerts - Download the SoyaGuru app...
Thank you! Your answers submitted successfully!
Sorry, you can participate in contest only once.