Source: FARM DOC DAILY, UNIV. OF ILLINOIS, 12/12/16


On December 9, the USDA released the World Agricultural Supply and Demand Estimates report for December. Despite strong U.S. soybean export numbers in the early part of the marketing year driven by Chinese imports, the USDA maintained the forecast of 2016-17 marketing year exports of U.S. soybeans at 2.05 billion bushels. The lack of change in the soybean export forecast surprised some soybean market observers. The potential for strong South American soybean export competition in the second half of the marketing year is the limiting factor in expanded U.S. soybean exports.

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