The global supply of grains and oilseeds is shrinking.
Kent Beadle with CHS Hedging says that jumped out to him when looking at USDA’s latest World Agricultural Supply and Demand Estimates.
“In every category, world corn, world coarse grains, world rice, world soybeans. The world balance sheets in all of those commodities tightened up to at least some degree.”
The soybean carryout is down 15 million bushels on the month even though USDA did not raise exports.