Total volume of the world's soybeans by 31 August was 60.21 million tons. This is for 0.1% higher than expected in February and by 8.8% over last year's level reserves, the IA "TradeKeyNews."
- Soybean ending stocks in U.S. fell to 3.4 million tons in 2012-13 MY
- October 24, 2012, Soy overcome pressure
- Argentina reduced its soybean crop forecast
According to USDA analysts the soybean harvest in Argentina, (the world's largest supplier of animal feed based on soybean) may total to51.5 million tons. Brazil, which for the first time can bypass the U.S. Merchant's largest producer and exporter of oil seeds, harvest can be amounted to 83.5 million tons. Last month, production forecast was similar, but year before the harvest was 26% less, the representative of the USDA forecast.
Soon, world in market will arrive a record supply of soybeans from South America. This will help to reduce demand of U.S. soybeans origin.
Soybeans for May delivery at the end of this week, price dropped by less than 0.1% to 14.7325 dollars per bushel (27.2 kg) on Chicago Mercantile Exchange CBOT.