U.S. soybean exports will hit a record

Introduction: the U.S Department of agriculture on Tuesday predicted that this market year American farms will export a record 1 billion bushels of soybeans and 9.8 million bales of cotton, the highest in 75 years In its monthly report, the U.S Department of agriculture estimated U.S cotton production at 2006 million bales, 480 pounds per bale, down 1% from November's forecast, but still the highest on record US soybean production also hit a record high of 2.923 billion bushels The USDA said the outlook for U.S soybeans and soybean products exports remains optimistic despite increased supply from competitors The U.S Department of Agriculture says the European Union has increased the demand for soybean meal by banning the use of meat and bone meal in the poultry industry, and China's soybean oil imports will increase Cotton exports were 9.8 million bales, 400000 more than last month Low prices drive foreign demand, and other major producers are down Since August to October, the average price of cotton in the United States has been 35.7 cents / pound, far lower than the average price of 49.8 cents / pound in the same period last year "Prices have plummeted," said an analyst at WEFA, a consultancy The increase in soybean exports also increased the average farm soybean price in the United States by 10 cents to 4.40 cents per bushel compared with last month, but it is still the lowest price in 29 years due to the huge supply of soybeans in the United States and around the world Last year, 998 million bushels of soybeans were exported Some analysts in the US agricultural sector claim that the US wheat stock problem is 697 million bushels New wheat is ready to be harvested next spring The inventory is 35 million bushels higher than last month's forecast, due to the decline in exports and the decline in domestic consumption The average US farm price is expected to be $2.85/bushel The average US farm corn price is expected to be $2 per bushel, the lowest since the 1986 / 87 market year The U.S Department of Agriculture said it expects more wheat, corn and soybean oil imports after China's accession to the WTO (author:) share to feed Weibo share to: