Soybean Supplies Seen Ample on U.S. Harvest: Oil World
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Soybean stockpiles in the top three producing countries may be ample through the end of the year, potentially pushing prices lower as supply outstrips demand, Oil World said.
Combined soybean inventories in the U.S., Brazil and Argentina may total 51 million metric tons by Sept. 1, 5.1 million tons higher than the previous year and the fifth-largest supply for the date, the researcher said. Increasing supplies from the 2014-15 U.S. harvest may boost combined stockpiles in the countries to as much as 154 million tons by December, about 16.7 million tons higher than a year earlier.