On Tuesday the USDA published the February WASDE report which provides both domestic and global supply and demand estimates. One of the biggest changes in this month’s numbers were to the Argentinian soybean crop says World Agricultural Outlook Board Chair Mark Jekanowski.
There were no changes made to Brazil’s soybean production forecast with estimates still predicting a record high crop.
The domestic soybean production estimate showed a 10 cent decrease in the season ending average price forecast, due to increased foreign supplies. The price forecast is now $10.10 per bushel.
World Agricultural Outlook Board Chair Mark Jekanowski expands on this month’s outlook by USDA of Brazilian soybean production.
That was World Agricultural Outlook Board Chair Mark Jekanowski.
