Urner Barry Releases November Soy & Wheat Report
This month, the U.S. soybean outlook for 2021/22 is for lower production and exports, and higher ending stocks. Soybean production is forecast at 4.42 billion bushels, down 23 million on lower yields. Lower yields in Indiana, Iowa, Ohio, and Kansas account for most of the change in production. The U.S. season-average soybean price is forecast at $12.10/bu, a decrease of $0.25.
According to the USDA's Crop Progress report, soybean harvest is just about on par with the five-year average rate at 87% completion. Minnesota reported that...
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