Source: FARM FUTURES, 3/31/17

 USDA on Friday delivered a double-dose of bearish news for soybeans when it forecast that farmers will plant more soybeans this year at a time when there are 200 million more bushels of soybeans in storage than a year ago.
The grain trade expected more soybean acres, but USDA’s forecast of 89.5 million was even larger than trade estimates. 

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