A grain merchandiser says the big number to watch in tomorrow’s World Ag Supply and Demand report from the USDA is South American soybean production.
Kim Holsapple is the Lead Merchandiser for Total Grain Marketing in Effingham, IL. He says the USDA lowered South American soybean production by 5 million metric tons in their January report and he is expecting something similar in the February report.
“The trade is trading something more than a 5 million metric ton cut in soybeans in Brazil and Argentina, I think private trade is more in the 130 range.
