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Soymeal News - U.S. November 2020/21 Soybean End Stocks Estimate at 340 Million Bushels: USDA
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U.S. November 2020/21 Soybean End Stocks Estimate at 340 Million Bushels: USDA

The U.S. Department of Agriculture monthly supply and demand report for the month of November forecasts U.S. 2020/21 soybean end stocks at 340 million bushels higher than previous estimate of 320 million bushels. Opening stocks in November 2020/21 have been kept same as last month at 175 million bushels. Soybean production in November estimate is increased to 4,425 million bushels compared to 4,448 million bushels in October. U.S. soybean exports estimate in November have been decrease to 2,050 million bushels compared to 2,090 million bushels in October. Import’s estimate is kept same as last month at 15 million bushels. Crushing have kept same as last month at 2,190 million bushels. Seed use in 2020/21 is lowered to 102 million bushels compared to 104 million bushels. Residual use is kept unchanged at 15 million bushels. Average price range is lowered to 12.10 cents/bushel compared to 12.35 cents/bushel October month’s estimate.