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DTN's Sanow sees tighter soybean stocks
Ahead of the upcoming USDA supply anddemand report, analysts expect soybean stocks to continue to tighten. DTN grain analyst John Sanow tells Brownfield that tightness is because of the smaller than expected crop in Argentina and strong export demand and the supply could fall below 100 million bushels.
“Now whether that happens or not, or if it's reported, that remains to be seen.” Sanow adds, “We've other years where it's looked like we've been able to be below that number and it seems like that 100 million bushel [mark] is the magic number that they don'ttypically like to drop below. But, I've been surprised before and could be surprised again.”
Also, Sanow says that because of corn planting delays, USDA could increase their soybean acreage estimate by 1 to 3 million acres.
The USDA numbersare out Wednesday, June 10 at 7:30 AM Central.
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