Are ‘Beans In the Teens’ Possible?
By John Newton, Ph.D.
American Farm Bureau Federation
Over the last two years, soybean exports and domestic crushing have outpaced soybean production in the world’s leading soybean-producing nations, Brazil and the U.S., helping to draw down their collective inventory by an estimated 1.2 billion bushels. Now, in advance of the highly anticipated January World Agricultural Supply and Demand Estimates report, we’re looking at the tightest soybean market in six years, with global stockpiles of 3.1 billion bushels and a stocks-to-use ratio of 23% -- the lowest since the 2013/14 marketing year.