date:Jun 13, 2012
s bearish for the corn market, bullish old-crop soybeans and friendly new-crop beans. Also, the report is seen as friendly for wheat. It's interesting how they are already adjusting new crop usage already to keep carryout above 100 million bushels, 14 months in advance. Just shows how much demand rationing beans have to do, Ward says.
USDA estimates the U.S. 2011-12 soybean carryout at 175 million bushels vs. the trade's average estimate of 197 million bushels and its May estimate of 210 millio