Soybean Carryout projected Tightest since 2014 – 10/09/2020

Published by David Tedrow on October 9, 2020

The USDA dropped the new crop U.S. soybean carryout estimate to 290 million bushels. Expressed as a ratio of carryout to crop year usage (excluding residual) the projection would be the tightest since 2014 (2013/2014 crop year) when cash soybeans topped $15 per bushel.

The world still has the prospect of a big Southern Hemisphere soybean crop to depend on, but the skimpy U.S. carryout does not leave much room for possible crop problems in Argentina or Brazil this winter (austral summer).

Categories: Soybean Complex