October 1, 2009

     
The US soy crop is estimated at a record 3.25 billion bushels, but stockpiles will be the smallest in six years, according to the USDA.

 

At the start of this week, five percent of the soy crop was harvested, well behind the average of 18 percent, due to a rainy spring that delayed crop maturity.

 

US soy ending stocks were pegged at 138 million bushels, up 28 million bushels from the forecast earlier this month, but will still be a new low in six years.

 

The larger soy stockpile in the USDA quarterly Grain Stocks report is in part because the 2008 soy crop was 7.8 million bushels larger than forecast.