US soybean supply growth slows down, increasing global dependence on New South American soybeans
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Last Update: 2002-01-23
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Source: Internet
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Author: User
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Introduction: the report of soybean production released by the United States today and the report of inventory forecast on December 1 are positive, which will help the period price to go higher The USDA cut soybean production by 32 million bushels in 2001 to 2891 million bushels As of December 1, U.S soybean stocks were lower than expected, with the U.S Department of agriculture reporting 2.276 billion bushels, up just 37 million bushels from the same period last year The continued strong demand for soybeans in the United States has slowed the growth of soybean supply in the United States this year, increasing global dependence on new soybeans from South America.
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