The market surprised a neutral balance for UDSA soybean
New balance soja UDSA is almost unchanged compared to the may report, which surprised the market which expected a significant adjustment in the US, where catastrophically delayed sowing of soybeans and corn.
as a Result of falling exports in the current season, the increase in the initial stocks of soybeans in the U.S. in 2019/20 MG to 2 million tonnes and the decrease in Argentina and China, the world's initial stocks will be reduced by 0.38 million tonnes to at 112.8 mln t, and ending at 0.4 million tonnes to 112,66 million tons.
Assessment of global production and consumption of soybeans has not changed compared to the may forecast.
soybean Exports from the United States in the current season is estimated 46.27 million tonnes, which almost corresponds to the current level of sales, although the season is still 3 months. In the case of a productive meeting between the leaders of the United States and China at the G-20 summit and to strengthen exports to China, the balance may undergo significant changes.
the Final report on crop acreage in the United States that will publish on June 28, can adjust the forecast of soybean production in the new season, which so far remains at the level of 112.95 million tons.
soybean Futures on the Chicago Board of CBOT yesterday showed growth, but in late trading returned to the level of Monday 314,75 $/t