Standard Grain President Joe Vaclavik is not looking for friendly numbers in the USDA’s November Supply and Demand report. “The grain trade expects the USDA to increase soybean carryout. They think the USDA is going to go from a 320 million bushel carryout up to a 362 million bushel carryout. That number, in reality, is north of 400 million bushels.” This is not fresh news to anyone paying attention. “The export sales program is not good. We lost a month worth of shipments as a result of the hurricane. I think sales are more than 30 percent behind last year’s pace and USDA is telling us, as of their most recent report, that we’ll lose seven percent. USDA will come down with the export projection. They may increase the size of the soybean crop. There’s a number of negative factors impacting soybeans.”
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