The US Department of Agriculture (USDA) has revised down its stock estimates for soyabeans in the 2017-18 marketing year to 550 million bushels, five million lower than its March figure, according to its monthly supply and demand report. In its monthly supply and demand report, USDA pegged soybean ending stocks for the 2017-18 marketing year at 550 million bushels, down 5 million from its March estimate. Soybeans are a major food crop that is used as animal feed or processed into biofuels. In addition, the USDA has hiked crushing estimates by 10 million bushels to 1.97 billion, following increased activity due to healthy profit margins, while downsizing predictions for Argentina's soyabean yield to 40 million tonnes, a reduction of seven million.
The US Department of Agriculture (USDA) has revised down its stock estimates for soyabeans in the 2017-18 marketing year to 550 million bushels, five million lower than its March figure, according to its monthly supply and demand report. Soybeans are a major food crop that is used as animal feed or processed into biofuels. In addition, the USDA has hiked crushing estimates by 10 million bushels to 1.97 billion, following increased activity due to healthy profit margins, while downsizing predictions for Argentina's soyabean yield to 40 million tonnes, a reduction of seven million.