date:May 11, 2012
ls the USDA predicted a month ago and 2.3% from a year earlier, due to higher exports and domestic use at processors. The forecast is also lower than the 221 million bushels expected on average by analysts in the Dow Jones poll.
The ending-stocks forecast for the end of the next marketing year is even lower--down to 145 million bushels, below the average analyst prediction of 170 million bushels. U.S. farmers are likely to produce 3.205 billion bushels of soybeans this year, up 4.9% from last y