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1997 01 27.pdf

1997-01-27.pdf
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🔗 Source: farmdoc.illinois.edu
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👤 Author: Mekel
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Summary

Soybean consumption remains strong, with the Census Bureau estimating a record 138.2 million bushel crush in December 1996, and domestic crush for the first four months of the 1996-97 marketing year totaling 49.9 million bushels, 22 million more than the same period last year. Soybean meal production increased 6.8% from the same period last year, while soybean oil production rose 5.1%. Despite increased production, oil stocks are accumulating, and exports are running ahead of last year's pace. Soybean exports are progressing at a record pace, with shipments through January 23 up 19% from the same date last year. The USDA projects a 6% increase in soybean exports for the year, but the rate of exports will decline once the South American crop is harvested. Any shortfall in South American production could result in price increases, and until the outcome is determined, soybean prices are expected to be well-supported, with March futures having excellent support at $7.30.

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Soybean consumption remains strong, with the Census Bureau estimating a record 138.2 million bushel crush in December 1996, and domestic crush for the first...

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  • File Format: PDF
  • File Size: 1017 KB
  • Pages: 2
  • Language: EN
  • Author: Mekel
  • Total Downloads: 71
  • Last Updated: 1 week ago

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