USDA will release its July supply and demand report Tuesday. AgriSompo North America market analyst Sterling Smith expects a tight balance sheet. “I did my balance sheets, trying to predict the future and the soybean ending stocks number was noticeably smaller than last years.” Smith says the recent drop in prices was overdone and was not driven by market fundamentals. “The drop in the grain market may have been a little overstated and might not have much to do with what’s going on.”
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