Ag experts say they will be closely watching soybean ending stocks projections in the USDA’s upcoming supply and demand estimates report.
Jim Mintert is an ag economist with Purdue University.
“The key factor that people are going to be looking at is what is USDA do to the projected carryover,” he says. “We are so tight on soybeans that the question becomes can we increase exports, and can we pull the carryover down below what USDA had on the last report which was 120 million bushels.”
The average pre-report guess is 117 million bushels.
