Between lower planting in the U.S. and competition from South America, the USDA is predicting soybean exports to be down about 12 percent this year.
However, Chief Economist Seth Meyer says growers could see higher domestic use.
“One of the offsetting factors in the US market has been we’ve had a pretty resilient and robust domestic crush. Oil has been drawn off for supportive policies in the biofuel market, and so here we are actually looking about tightening US soybean stocks.”
USDA is predicting stocks to be down by 8.5 percent at the end of the year, which is not enough of a downturn to send prices up, but at least to break their fall.
Related Stories
ASA President Scott Metzger says soybean growers remain focused on trade, the Farm Bill, renewable fuels, and market stability as Congress weighs additional assistance for farmers and export opportunities.
Renewable Fuels Association CEO Geoff Cooper discusses record public support for year-round E15, congressional legislation, the Renewable Fuel Standard, 45Z guidance, and ethanol trade with Brazil.
The sixth-generation operation has produced food-grade white corn for nearly three decades.
Researchers say ripe berries should be fully blue, refrigerate quickly and be washed just before eating.
State officials say documenting losses will be critical as producers begin the recovery process.
The proposal would provide up to $12 billion for producers facing high production costs and trade-related challenges.
