Soybean Exports Not Supporting Prices
June 22, 2020
As of June 11, 2020, accumulated soybeans for the 2019/2020 market year were at 36.6 million bushels as reported by the USDA Foreign Agricultural Service (FAS). This number is close to last year at this time, 36.3 million bushels, when exports were impacted by US-China trade tariffs. With the Phase I deal only partially implemented and the effect of the COVID-19 pandemic reducing demand, export sales are not supporting prices.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > FAS > Soybeans > Accumulated Exports.
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The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.