USDA soybean report December (12.18)
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Last Update: 2003-03-12
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Source: Internet
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Author: User
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In terms of supply, the only change mentioned in the USDA agriculture report is that Argentina has increased production by 500000 tons and China has increased production by 400000 tons, which is expected But what's interesting is the demand side Traders are on the sidelines on how USDA will deal with the BSE / MBM issue in the EU Finally, they increased U.S soybean exports by 25 million bushels and soybean crush by 5 million bushels At the same time, the world demand for soybean meal increased by 2 million tons This seems to give a reasonable guess about the uncertain soybean demand at that time, but the market obviously needs more soybeans, because the price of soybean futures has been low, although the storage of soybeans in the United States has been reduced by 30 million bushels On the other hand, from the past experience, the December report is a little common in content and impact The January report should be more attractive because it will include a final assessment of the various products of the United States in 2000, and crop production in South America will be the basis for their assessment of weather factors.
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