Soybean

Bumper Crops Continue to Drive Soft Commodities Markets
Commodities

It was another week of falling prices for soft commodities (DBA, quote) once more, as over supply issues continue to dominate across all the major markets, and clearly evident from the weekly charts. It is the US which sets the price for world markets as the largest exporter, with the US Midwest corn belt set to produce a record harvest for a second year.  

Oil Crops Outlook
Commodities

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Export shipments of U.S. soybeans for 2011/12 are forecast up 20 million bushels this month to 1.335 billion. And the 2011/12 soybean crush is forecast 15 million bushels higher this month to 1.66 billion based on higher demand for soybean meal. Higher soybean demand would further reduce U.S. season-ending stocks for 2011/12 to 175 million bushels, compared to last month’s forecast at 210 million.