The soybean market is waiting for a new USDA forecast

Traders look forward to the balance USDA with a balance of soy, which will take into account the reduction of production in Brazil, and reduced consumption of China.

In Friday's report will be released the final reading of the soybean production in the U.S. and adjustments to production forecasts in Brazil and Argentina due to dry weather in December and January.

Earlier, the soy production in Brazil was estimated at 122 million tonnes, but now experts predict it within 112-118,8 million tons.

Despite favorable harvest weather in Argentina, experts believe that pre-assessment USDA at 55.5 million tonnes will not be achieved and predict a decline to 54-55 million tons.

still remains uncertain, the volume of imports of soybeans by China, which was previously estimated at 90 million t. the Resumption of purchases by China of U.S. soybeans allows to increase the forecast of imports, moreover, has announced the acquisition of two state-owned Chinese companies 10 million tons of soybeans in the United States. However, the reduction in the number caused by the spread of ASF in a country reduces the forecast of consumption of soy in the current season.

soybean Futures in Chicago rose yesterday to 338,1 $/t

a Year ago, before the publication of the report they traded for 361 $/t, then the reduction in the harvest forecast in Argentina rose to APR to 385 $/t, and after the outbreak of a trade war between the US and China even dropped to $300/t