Demand Prospects for Old Crop and New Crop Soybeans
US - The recent sharp break in old crop soybean prices and basis indicates that the market believes that supplies will be fully adequate until the harvest of the new crop begins in six or seven weeks. For that to be the case, the domestic crush in July and August would have to be down sharply from the level of crush last year and sharply below the pace in June of this year.
30 July 2013
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