"The USDA projects soybean stockpiles this season at 470M bushels, a jump from December's estimate and the highest in more than a decade." I doubt it stops there. How long before we blow through 500M bushels
They have begun the process of cutting exports. I suspect we will see 50 MB a month cut going forward unless something changes in a big way. With 35 weeks remaining in the marketing year, even a sales pace matching the all-time record from this point forward, would still leave 2017/18 U.S. soybean exports 150-175 million bushels short of the USDA’s current estimate.
Maybe. Maybe it's because we are a little too proud of our beans.
Farmers are being set up for a swift kick in the mouth if the weather doesn't turn bad in SA.
Otherwise ES for 2018/2019 are set to grow another, at a minimum, another 150-200 mb. Pile on slow sales and it starts to get even uglier.
You want to be long?
The ECWF Long range precipitation forecast for SA is showing a dry bias for the northern growing regions of Brazil, and parts of Argentina. Not a drought yet but something to watch.
Feb in Argentina is like Aug here? and March, April would be second crop in north?