USDA forecast: Unprecedentedly high soybean stocks in the US

US soybean prices fall another percent this morning after a bearish USDA report released Friday morning, a three-week low.
The trade dispute between the US and China could further increase the supply of soybeans. On a lot that the US has never seen.
The USDA report from Friday in the US expects a bumper crop of soybeans in 2018. Inventories at the end of the marketing season in August 2019 would therefore grow to an unprecedented high of 785 million bushels.
The agency also expects higher exports - but traders remain nervous because the trade war with China, the world's largest soybean importer, is further aggravated.
Graphic: Saxo-Trader

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