Soybeans and Oil Crops, January 2018 (summary)
Competition Shifts Seasonal Pattern of U.S. Soybean Exports for 2017/18
USDA estimates the 2017/18 U.S. soybean crop at 4.392 billion bushels as the national average yield slipped 0.4 bushels to 49.1 bushels per acre. USDA forecasts the soybean crush 10 million bushels higher this month to 1.95 billion. Based on a current shortfall in U.S. outstanding export sales commitments of soybeans, USDA’s 2017/18 export forecast is lowered 65 million bushels this month to 2.16 billion. The revised use forecasts raise the expectation of season-ending soybean stocks to 470 million bushels from 445 million last month.