http://nut3nut4.blogspot.com/2014/10/blog-post_82.html?showComment=1414740319940#c8293895974402501021
Combined soybean inventories in the U.S., Braziland Argentina may total 51 million metric tons by Sept. 1, 5.1 million tons higher than the previous year and the fifth-largest supply for the date, the researcher said. Increasing supplies from the 2014-15 U.S. harvest may boost combined stockpiles in the countries to as much as 154 million tons by December, about 16.7 million tons higher than a year earlier.
“The growth of supplies will finally exceed that of demand, paving the way for a significant recovery of U.S. soybean stocks after three years of declines,” Hamburg-based Oil World said in an e-mailed report. “This is seen as an important factor for the magnitude of a likely further price decline.”
Soybean futures on the Chicago Board of Trade, the global benchmark, have dropped 17 percent in the past year amid prospects that U.S. farmers will harvest a record crop in the next few months following bumper output from South America in the past season. The U.S. crop may rise to a record 103.4 million tons in the 2014-15 season, 16 percent larger than the prior year, the U.S. Department of Agriculture estimates.
No comments:
Post a Comment