date:May 11, 2012
ear, but that will be overshadowed by exports in the next marketing year rising 14.4% to 1.505 billion bushels, the USDA said.
The forecasts are likely to add to concerns about tightening soybean supplies amid lower South American production and rising Chinese demand. Soy futures have rallied since December on concerns about reduced output in Brazil and Argentina, which stems from a drought, and expectations their smaller production will drive more export demand to the U.S.