date:May 22, 2012
Investors are factoring in very nervous weather for newly planted U.S. soybean crops, said Mike Zuzolo, president of Global Commodity Analytics and Consulting.
New crop contracts, or futures that represent soybeans to be harvested in the fall, led the advances. The U.S. Department of Agriculture is using a relatively high crop yield in its estimates for 2012 production, and even that projection leaves the market straddled with precariously tight end-of-year stockpiles by August 2013.
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