USDA’s December supply and demand report was deemed friendly for soybeans with ending stocks unchanged at 470 million bushels. Global Commodity Analytics and Consulting President Mike Zuzolo says USDA didn’t do anything to hurt the market. “They actually came in on the low end of that number and below the average trade guess. I think we’ve done enough damage in terms of price erosion and pulling weather premium out of the soy complex for now.”
