Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 11/20/17

U.S. soybean exports will play a significant role in determining soybean prices this marketing year. The recent level of soybean exports from the United States trails last year's pace. The prospect of ending stocks for soybeans once again diminishing throughout the marketing year hinge on increased soybean exports. The development of a lowered ending stock scenario during 2017-18 may require a shortfall in South American production or U.S. exports capturing a greater market share of the world soybean trade.

The current projection for U.S. soybean exports during the 2017-18 marketing year is 2,250 million bushels. This forecast is 76 million bushels larger than last marketing year's total exports. While we are only twelve weeks into the marketing year...

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