Soybean Futures



Soybeans from 1969(200 day exponential average red) 200 day ROC (rate of change) green.
 
Soybeans Recent(200 day exponential average red) 200 day ROC (rate of change) green.
 
The price of Soybeans in constant Dollars (price adjusted by Consumer Price Index - CPI). Red line is a 50 day exponential average. (This is a Logarithmic Scale
 
Soybean Point & Figure (Spot) Box value = 2 reversal = 3
 
Soybean Futures  -- The Blue line is a Donchian channel, red line is a 5 day exponential average, green line is a 20 day exponential average. Vertical green bars MACD (Moving average convergence divergence) 5 and 20
 
Soybean / Corn Ratio
 



Soybean World Stock to USE Ratio CBOT Data
 




Soybean U.S. Stock to  Use Ratio CBOT Data
Soybeans Notes & Links:
 


Chicago Board of Trade (market commentary)


Agronomists believe that mid-west soybean yields could drop about 1/4 of 1 bushel per acre for each day planted after May 20th.
"The market always takes a dip in February" a veteran CBOT soybean trader said. It's pretty regular.(History however suggests that the "February Brake" occurs in March in bull years.)
"On first notice days, the frequency is to open low and close high," a veteran CBOT soybean trader said. "So, I would not rule out a recovery."
Big deliveries open lower and close higher, one CBOT broker said. It's happened many times.
A yardstick to watch is the new crop soybean/corn ratio, which is trading very close to its historical norm of 2.43 to 1. Last year (07) corn rallied enough to drop the ratio below 2 to 1, spurring the massive increase in acres. Bryce Knorr, Farm Futures Senior Editor
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4/9/08 The USDA's estimate for 2007-2008 U.S. ending stocks of:
Soybeans were raised from 140 to 160 million bushels.
The USDA's estimate for 2007-2008 world ending stocks of:
Soybeans were increased from 47.4 to 49.3 million tons.
3/31/08 In 2008 the USDA expects farmers to plant 74.8 million acres of soybeans, up 18% YoY
The USDA said, as of March 1st, U.S. stocks of Soybeans totaled 1.43 billion bushels, down 20% YoY.
2/21/08 The USDA said that its 2008 preliminary planting estimate for:
Soybeans are 71 million acres, up 12% from the previous year.
2/14/08 Thailand has started requiring that all its diesel fuel include a component made from palm oil, a move that could reduce costly energy imports but is driving up prices for the commodity.
Grain and oilseed prices rose on fresh signs of demand and shrinking supply. Almost half of China’s autumn and winter rapeseed crop was negatively affected by the recent rain and snow storms, the China National Grain & Oils Information Center said.
2/8/08 The USDA's estimate of 2007-2008 world ending stocks of Soybeans were lowered from 46.2 to 45.8 million tons.
2/8/08 The USDA's estimate of 2007-2008 U.S. ending stocks of Soybeans were lowered from 175 to 160 million bushels.
1/17/08 (Interfax) according to China customs, China imported 30.8 million tons of soybeans in 2007, up 9% YoY.
11/27/07 China's National Grain and Oil Trade Center sees a 2007 grain and oilseed supply shortfall of 26 million tons.
11/9/07 The USDA's 2007-20008 U.S. ending stocks estimate of
Soybeans were reduced from 215 to 210 million bushels.
The USDA's 2007-2008 world ending stocks estimate of
Soybeans were reduced from 50.8 to 49.4 million tons.
10/17/07 The USDA is reporting the first Asian soybean rust finding in Indiana, in addition to several new cases in Iowa and Missouri
The USDA's 2007-2008 U.S. ending stocks estimate of Soybeans are unchanged at 215 million bushels.
The USDA's 2007-2008 world ending stocks estimate of Soybeans increased from 50 to 51 million tons.
9/29/07 The USDA said that, on September 1, 2007 Soybean stocks totaled 573 million bushels, up 27% YoY.
9/17/07 China plans to restrict fuel made from agricultural products and cut import tariffs to reduce food inflation. Corn demand is expected up 14.5% by 2010, while output is expected to rise 3.5%. China's overall inflation rate in August was a 10-year high of 6.5%. China's food-price inflation however was 18.2%, 34.6% for vegetable oils and 495 percent for meat.
8/26/07 Pro Farmer, estimates 2007  U.S. soybean production at 2.658 billion bushels with a per acre yield of 42.0 bushels.
8/10/07 The USDA's 2007-2008 world ending stocks estimate for:Soybeans fell from 51.9 to 51.6 million tons.
8/10/07 The USDA's 2007-2008 U.S. ending stocks estimate for: Soybeans fell from 245 to 220 million bushels.
8/8/07 Dow-Jones News said this year's drought in China will mean "China is likely to import millions tons more of soybeans in the coming crop year than earlier expected."
6/29/07 The USDA estimates planted acres of Soybeans at 64.1 million acres, down 15% YoY -- the lowest since 1995.
The USDA estimates June 1, 2007, stocks of Soybeans totaled 1.09 billion bushels, up 10% YoY.
6/26/07 Stats Canada said Canada's farmers planted 2.9 million acres of soybeans, down 3% from a year ago.
6/11/07 The USDA estimates 2007-2008 U.S. ending stocks of Soybeans remained at 320 million bushels.
The USDA estimates 2007-2008 world ending stocks of Soybeans at 54 million tons, down from 64.
4/10/07 The USDA's 2006-2007 world ending stocks estimate for Soybeans were increased from 57 to 61 million tons.
The USDA's 2006-2007 U.S. ending stocks estimate for Soybeans were increased from 595 to 615 million bushels.
The estimated soybean production in Argentina was increased from 44.0 to 45.5 million tons.
The estimate for Brazil was increased from 57.0 to 58.8 million tons.
3/30/07 The USDA's Prospective Plantings report expects 67.14 million acres of soybeans, down from 75.5 million acres a year ago. (est. 69.17)
The USDA said that on March 1, 07 there were 1.78 billion bushels of soybean stocks, up 7% YoY.
3/14/07 Asian soybean rust was found in a bin of soybeans that came from southeast Iowa last fall.
3/6/07 At its Outlook Forum, the USDA said they expect 2007-2008 U.S. ending stocks of Soybeans to fall from 595 to 370 million bushels.
2/9/07 Mato Grosso’s soybean farmers reporting soybean rust so far this year has increased to 1,020, from 613 last year. This after 40 inches of rainfall over the last thirty days.
2/9/07 The USDA's world 2006-2007 ending stock estimate for Soybeans were increased from 56 to 57 million tons
2/9/07 The USDA's U.S. 2006-2007 ending stock estimate for Soybeans were increased from 575 to 595 million bushels.
2/7/07 A leading Asian soybean rust researcher says this year's winter weather likely hasn't knocked out the fungal disease from locations where it’s overwintering in the Southern U.S.
Brazil's Vegetable Oils Industry Association changed their crop forecast to 57.1 million tonnes from 55.8 million tonnes projected in January. This compares with the USDA forecast of 56 million tonnes.
1/12/07 The USDA's 2006-2007 world ending stocks estimate for Soybeans increased to 56 million tons. (stocks/usage 25%)
1/12/07 The USDA's 2006-2007 U.S. ending stocks estimate for Soybeans were increased from 565 to 575 million bushels. (stocks/usage 19%)
12/11/06 The USDA's 2006-2007 U.S. ending stocks estimate of Soybeans were unchanged at 565 million bushels.
The USDA's 2006-2007 world ending stocks estimate of Soybeans were increased from 55.2 to 55.7 million tons.
10/20/06 Virginia became the 15th U.S. state with Asian rust in its soybean fields. Asian rust may impact spring plating decisions for soybeans.
10/12/06 The USDA's 2006-2007 U.S. ending stocks estimate for soybeans were increased from 530 to 555 million bushels.
10/12/06 The USDA's 2006-2007 world ending stocks estimate for soybeans were increased from 52 to 55 million tons.
9/8/06 The USDA said that U.S. 2005-2006 exports of Soybeans finished the year down 15% YoY.
8/12/06 The USDA's U.S. 2006-2007 ending stocks estimate for Soybeans were reduced from 560 to 450 million bushels.
8/12/06 The USDA's world 2006-2007 ending stocks estimate for Soybeans were reduced from 53 to 50 million tons.
6/30/06 The USDA estimated U.S. planted acres this spring 74.9 million acres of soybeans, up 4% from a year ago, but down 3% from the March estimate.
6/30/06 The USDA reported U.S. grains stocks as of June 1st 990 million bushels of soybeans, up 42% from a year ago.
4/10/06 The USDA 2005-2006 U.S. ending stocks estimate for soybeans were unchanged at 565 million bushels.
The USDA's 2005-2006 world ending stocks estimate forsoybeans were reduced from 54.4 to 53.8 million tons.
The USDA's estimate of Brazil and Argentina's soybean crop was reduced from 3.64 to 3.58 billion bushels, this is still 6% more than last year.
4/3/06 The tiny biodiesel industry received a boost from Big Oil on Monday when a major petroleum refiner, Motiva Enterprises LLC, began blending the soy-based alternative with traditional motor fuel at a Dallas terminal
3/31/06 The USDA's 2006-2007 planting estimate for Soybeans is 76.9 million acres, up 7% YoY and the most on record.
As of March 1st, U.S. grain stocks of Soybeans totaled 1.67 billion bushels, up 21% YoY.
3/10/06 The USDA's 2005-2006 U.S. ending stocks estimate for soybeans were raised from 555 to 565 million bushels.
1/12/06 The USDA's soybean production estimate for Argentina and Brazil remained at 3.64 billion bushels.
12/9/05 The USDA's 2005-2006 world ending stocks estimate forSoybeans were increased from 47 to 48 million tons.
12/9/05 The USDA's 2005-2006 U.S. ending stocks estimate for Soybeans were increased from 350 to 405 million bushels.
11/10/05 The USDA's 2005-2006 U.S. ending stocks estimate for Soybeans increased from 260 to 350 million bushels.
11/3/05 Brazil's 2005-2006 soybean output is likely to reach 56.7 to-58.6 million tons, the Agriculture Ministry forecasting agency said in the first official estimates for next year's crop. Farmers may cut the area planted with soy by as much as 8 percent to 21.5 million hectares. Brazil harvested 51.1 million metric tons this year.
10/27/05 The U.S. Census Bureau said that 133.2 million bushels of soybeans were crushed in September, 2% more than last month. Soybean oil stocks totaled 1.69 billion pounds, down 2% from last month.
10/14/05 The National Oilseed Processors Association said that 127.1 million bushels of soybeans were crushed in September.
10/12/05 USDA's 2005-2006 U.S. ending stocks estimates for Soybeans were increased from 205 to 260 million bushels.
10/12/05 Today’s USDA production estimates for Soybeans were increased from 2.856 to 2.967 billion bushels.
09/12/05 The USDA's 2005-2006 U.S. crop estimate for
Soybeans were increased from 2.791 to 2.856 billion bushels.
09/12/05 The USDA's 2005-2006 U.S. ending stocks estimate for
Soybeans were increased from 180 to 205 million bushels.
07/28/05 The USDA drought monitor shows severe to extreme drought conditions persisting in northern Illinois and northeast Missouri.
07/12/05 The USDA's 2005-2006 U.S. ending stocks estimate for
Soybeans were reduced from 255 to 210 million bushels.

The USDA's 2005-2006 world ending stocks estimate for
Soybeans were reduced from 52 to 51 million tons.
06/29/05 Soybean imports doubled in May! China, the world's biggest soybean-buyer, bought 2 million metric tons of the oilseed last month, 143 percent more than in May 2004, according to figures released by the Customs General Administration of Customs on Friday. Imports jumped 55 percent in April from a year earlier.
06/17/05 Analytical firm Informa Economics pegged 2005 soybean planted
acreage at 72.91 million acres, down one million from the U.S. Department of Agriculture's March Prospective Plantings report, according to trade sources. Also the eastern half of the Midwest is expecting dry weather to continue through the weekend and perhaps longer.
06/10/05 The USDA's U.S. ending stocks estimate for Soybeans were reduced from 290 to 255 million bushels.
The USDA's world ending stocks estimate for Soybeans were estimated at 52 million tons, up from 47 million tons in 2004-2005.
06/06/05 U.S. Corn and soybeans are entering a critical part of the growing season, when the crops must become established. Most of Illinois received less than 40% of normal precipitation during the March-to-May period, causing moisture supplies to slowly vanish.
05/26/05 The U.S. Census Bureau said that 139.4 million bushels of soybeans were crushed in April.
05/12/05 The USDA's 2005-2006 U.S. ending stocks estimate for Soybeans is 290 million bushels, down from 355 million bushels in 2004-2005.
05/09/05 The USDA said that 79% of the corn, 26% of the soybeans, and 39% of the cotton crops were planted. 59% of the U.S. winter wheat crop was rated good to excellent, down from 63% a week ago.
04/28/05 The U.S. Census Bureau on Thursday reported U.S. March soybean crush totaled 149.7 million bushels, above the average analyst estimate of 148.7 million bushels.
U.S. March soy oil stocks totaled 1.790 billion pounds, versus analysts estimates of 1.779 billion pounds. Soy meal inventories totaled 251,744 tons versus the average analyst estimate of 316,700 short tons.
04/27/05 Asian soybean rust has been found in Georgia, with a positive identification confirmed Wednesday.
04/25/05 The U.S. Census Bureau is expected to report on Thursday
the U.S. March soybean crush at 148.7 million bushels. If it
does, that would rank as the second highest crush ever for March.
04/14/05 The U.S. Department of Agriculture said that old-crop soybean export sales last week hit a marketing-year low of 128,800 metric tons with China absent from the list of buyers. New-crop sales were 143,600 tons, total soybean sales came to 272,400 tons, which was under pre-report estimates ranging from 350,000 to 550,000 tons.
04/12/2005 AgRural said it forecasts the Brazilian soybean crop at 51.3 million metric tons, down from its previous estimate of 52.3 million tons, due to excessive rain in the main soybean-producing state of Mato Grosso. The U.S. Department of Agriculture has the crop currently figured at 54 million tons.
03/11/05 Brazil's Vegetable Oils Industry Association said that the Soybean crop is only 53.9 million tons.  Southern Brazil is still dry with chances for light showers coming on Sunday.
03/10/05 The USDA's estimate of this spring's soybean crop in Brazil was reduced from 63.0 to 59.0 million tons (2.17 b.bu.), due to dry weather. The soybean estimate for Argentina remained the same, at 39.0 million tons (1.43 b.bu.)
03/10/05 The USDA's 2004-2005 U.S. ending stocks estimate for
Soybeans were reduced from 440 to 410 million bushels.
The USDA's 2004-2005 world ending stocks estimate for
Soybeans were reduced from 61 to 56 million tons.
03/07/05 Brazil's 2004-05 soybean crop (October-September) will total 57.0 million metric tons, the Agriculture Ministry said Monday. The latest forecast was down from on the 61.4 million tons predicted in December due to a prolonged drought in southern states
03/04/05 Conditions in southern Brazil remain hot and dry. Dow Jones Newswires quoted Brazilian analysts as saying that the soybean crop would only total 53 million tons (1.95 b. bu)  The USDA estimated 63 million ton (2.31 b. bu)
02/03/05 July soybeans were up 14.75 cents at $6.322, the highest close in six months, continuing to gain on South America's dry weather conditions. Private weather forecasters are pushing rain back in southern Brazil by 24 to 48 hours from prior forecasts.
02/28/05 Federal research tracks Soybean Rust movement  “In preparation for this upcoming soybean planting season, [we] have been designing a sentinel plot system and a monitoring system to see if soybean rust is going to move, where it is going to move in the United States, to be able to detect it early and then intervene wherever necessary,” he said.
02/25/05 The USDA projected the 2005-2006 U.S. soybean harvest at 2.87 billion bushels, resulting in a drop in ending stocks, from 440 to 410 million bushels.  Dry conditions are expected to continue in southern Brazil.
02/24/05 The U.S. Census Bureau said  that 148.5 million bushels of soybeans were crushed in January, less than expected.
02/22/05 AgRural, estimated Brazil's soybean crop at 60 million tons, less than the USDA's most recent estimate of 63 million tons (2.3 billion bushels).
02/18/05 The Brazilian firm, Safras e Mercado, estimated the current soybean crop at 61.2 million tons, less than the USDA's estimate of 63 million tons (1.7 billion bushels).
02/17/05 Soybean traders remain fixated by the possibility that persistent arid weather may be causing yield damage to late-maturing crops in South America.
02/17/05 Compared to one year ago, U.S. exports for Soybeans improved from +5% to +6%.
02/15/05 Brazilian Agriculture Minister Roberto Rodrigues said he is in talks with farmers to seek a WTO probe, known as a panel. The U.S. spent $11 billion on farm subsidies last year to guarantee a minimum price for crops including soybeans, making it difficult for Brazilian farmers to compete, Rodrigues said in an interview in Brasilia.
02/15/05 The National Oilseed Processors Association said that 141 million bushels of U.S. soybeans were crushed in January, down 2 million bushels from the previous month.
02/14/05 Argentina's 2004-05 soy crop is estimated at 37.7 million
tons, the Buenos Aires Cereals Exchange said Monday. The USDA currently forecasts the crop at 39 million tons.
02/14/05 State and private forecasters in Brazil said Monday that most of Brazil's keygrowing areas are expected to remain hot and dry through Wednesday.  
02/14/05 Soybeans inspected for export were 26.094 million bushels for the week ended Feb. 10, down from 27.081 million the previous week, the USDA reported. For the current marketing year to date, soybean inspections are 706.47 million bushels, up from 665.36 million last year at this time.
02/09/05 The USDA's soybean production estimate for Brazil and Argentina this spring was reduced slightly from 2.80 to 2.75 billion bushels.
02/09/05 The USDA's 2004-2005 U.S. ending stocks estimate for Soybeans was increased from 435 to 440 million bushels. And the USDA's 2004-2005 world ending stocks estimate for Soybeans was increased slightly to 61.4 million tons.
01/27/05 The U.S. Census Bureau said that 150 million bushels of soybeans were crushed in December, less than expected.
01/21/05 Bird flu problems in southeast Asia are growing worse. Vietnam reported its seventh human fatality due to the flu.
01/12/05 The USDA's 2004-2005 U.S. ending stocks estimate for
Soybeans was reduced 25 million bushels to 435 million bushels.
The USDA's 2004-2005 world ending stocks estimate for
Soybeans was increased to 61 million tons.
01/06/05 Compared to one year ago, U.S. exports for
Soybeans improved from +3% to +5%.
01/06/05 the soybean crop in southern Brazil is dry and in need of moisture soon.
01/05/05 The yield-slashing Asian rust soybean fungus has now been identified in 128 municipalities across Brazil's agricultural belt, up from 88 two weeks ago, Dow Jones Newswires reported Wednesday. Seventy-one of the cases were reported in the southern state of Parana, Brazil's second largest soybean producer while 18 cases were reported in the No. 1 state of Mato Grosso.
01/05/05 The USDA said that 116,000 tons of U.S. soybeans were sold to China.
12/14/04 China continues to pull on global commodities with demand for US soybeans rising in 2004/05 by nearly 50 per cent on the previous year.
12/14/04 The Brazilian government said that their 2004-2005 soybean crop will total 61.4 million tons, less than the USDA's 64.5 million ton estimate.
12/10/04 The USDA's 2004-2005 U.S. ending stocks estimate for
Soybeans was unchanged at 460 million bushels.The USDA's 2004-2005 world ending stocks estimate for Soybeans was reduced to 61 million tons. The Report Lacks Surprises
12/01/04 South Carolina and Tennessee became the eighth and ninth U.S. states to confirm the presence of Asian rust in their soybean fields.
11/30/04 Missouri became the seventh U.S. state to discover Asian rust in its soybean fields.
11/22/04 Asian soybean rust was officially discovered in a soybean
sample collected Nov. 18 in northeast Arkansas near the Mississippi River, Dow Jones Newswires reported. The yield-slashing fungus was believed to have been spread by Hurricane Ivan in September. It has already been found in Louisiana, Mississippi, Florida, Georgia and Alabama since Nov. 10.Asian rust was also, again, detected on a soybean plantation in southwestern Parana. The fungus is easily spread  and is believed to be all over Brazil this year.
11/17/04 Florida has found the highly contagious soybean rust fungus in one of its soybean fields on Wednesday, becoming the third infected U.S. state in a week, state officials said.
11/16/04 The USDA said that three more soybean fields in Louisiana and one in Mississippi tested positive for Asian rust, showing that the fungus is spreading quickly.
11/12/04 The USDA's U.S. 2004-2005 production estimate for
Soybeans was increased from 3.107 to 3.150 billion bushels and
the USDA's U.S. 2004-2005 ending stocks estimate for
Soybeans was increased by 55 million bushels to 460 million bushels.
11/10/04 The first case of soybean rust has been found on the mainland United States and could affect U.S. crops for the near future, costing farmers millions of dollars, the Agriculture Department said on Wednesday.
11/10/04  Wednesday, rumors were widespread of soybean rust spores being discovered in the southern Delta Plain states of Louisiana and Arkansas. The rumors have not been confirmed.   
10/11/04 The USDA's world 2004-2005 ending stocks estimates for Soybeans increased from 52 to 59 million tons.
10/11/04 The U.S. 2004-2005 production estimate for Soybeans was increased from 2.836 to a record high 3.107 billion bushels.
10/11/04 he USDA's U.S. 2004-2005 ending stocks estimates for Soybeans were increased 215 million bushels to 405 million bushels.
10/07/04 Compared to one year ago, U.S. 2004-2005 exports for Soybeans improved from +40% to +47%.
09/29/04 China said that they will burn a cargo  of soybeans from Argentina that tested positive for fungicide.
09/10/04 The USDA estimates of 2004-2005 world ending stocks for
Soybeans were increased 2 million tons to 52 million tons.
09/10/04 The USDA estimates of 2004-2005 U.S. ending stocks for
Soybeans were unchanged at 190 million bushels.
08/23/04 Asian rust fungus has been found in Columbia
07/12/04 The USDA's 2004-2005 estimate of world ending stocks for
Soybeans increased  to 47 million tons.
07/12/04 The USDA's 2004-2005 U.S. production estimate for
Soybeans is 2.94 billion bushels, a new record high.
07/12/04 The USDA's 2004-2005 estimates of U.S. ending stocks for
Soybeans were reduced by 10 million bushels to 210 million bushels.
06/30/04  USDA's U.S. soybean inventories as of June 1 were  at 410 million bushels, soybean acreage in the U.S. was revised downward to 74.809 million acres. Last year's acreage were  at 73.404 million.
06/23/04 China has officially ended its ban on South American soybeans.
06/10/04 Brazil and Argentina's current soybean crop was estimated at 3.18 billion bushels. In 2004-2005, Brazil and Argentina are expected to produce a total of 3.86 billion bushels of soybeans, more than the U.S.'s 2.97 billion bushels.
06/10/04 The USDA's 2004-2005 U.S. ending stocks estimates for Soybeans were increased 30 million bushels to 220 million bushels. World ending stocks estimates for Soybeans were set at 47 million tons, up from 32 million tons in 2003-2004.
06/01/04 An industry source said on Monday that China rejected a third soy cargo from Brazil over the weekend saying it was contaminated with a chemical known as carboxin.
05/27/04 Chinese crushers (unconfirmed)are seeking to delay or cancel a reported 20-30 cargoes (1.1-1.65 MMT)as they are still at a high risk of defaulting on soybeans.
05/27/04 Brazil's IBGE estimated this years  soybean crop at 50.02 MMT, down from its prior estimate of 52.6 MMT, and down from last years crop of 51.5 MMT. Planted area  was pegged at 21.2 million hectares, up 15 % from a year earlier of 18.5 million hectares. Yield was pegged at 2.358 kilo versus 2.791 the perv. year
05/27/04 The U.S. Census Bureau said that 112.5 million bushels of soybeans were crushed in April, down 11% from a year ago.
05/25/04 ...let's look at the fundamentals," said another analyst at a Chinese government think-tank, who didn't want to be identified. As China's living standards improve, consumption of edible oil is rising at a pace of 500,000 tons to 700,000 tons a year. (ODJ)
04/30/04 Private Brazilian research Safras lowered its estimate on Brazil's 2003-04 soybean crop to 49.98 million metric tons
04/27/04 The USDA said that the Asian soybean rust fungus could cost U.S. farmers $640-$1.3 billion per year the first year of infestation - should the disease hit the U.S., the USDA views this as likely. The report is on the ERS website. Asian rust fungus has now also been found in the major soybean producing province of Santa Fe in Argentina.
04/27/04 Hamburg-based newsletter Oil World on Tuesday forecast world 2003/04 soybean production at 187 million tonnes, down 9 million tonnes from last year due to disappointing South American crops. That level of production would fail to meet estimated global soybean demand of 197 million tonnes, it said.
04/21/04 Argentina lowered its estimate of their soybean crop to 33 million tons (1.21 b. bu.), less than the USDA's 35 million ton estimate.
04/21/04 Brazilian agricultural consultant AgRural lowered its estimate for Brazil's 2003-04 soybean crop to 49.26 million metric tons due to unfavorable weather conditions in first months of the year
04/16/04 The soybean harvest in Rio Grande do Sul, Brazil's third largest soybean state, is expected to total 5.4 million tons, down 44% from a year ago due to dry weather.
04/08/04 USDA cut its U.S. 2003/04 (old-crop) soy ending stock estimate to a fresh 27-year low of 115 million bushels, down from an average of analysts' estimates for 125 million and below the USDA's March forecast for 125 million. USDA also trimmed its forecast for Brazilian soy production this year to 56 million tonnes from the March forecast for 59.5 million, and Argentina's crop from 36.5 to 35 million tons.
04/07/04 Brazil's Vegetable Oils Industry Association cut its estimate of Brazil's soybean crop from 56.9 to 52.8 million tons.
03/31/04 As of March 1st, the USDA reported Soybean stocks at 905.5 million bushels, down 25% from a year ago.
03/31/04 The USDA's planting estimates for Soybeans are a record high 75.4 million acres, up almost 3% from a year ago.