CHICAGO (Reuters) – U.S. soybean supplies will be lower than previously anticipated as demand from the crushing industry picks up, the government said on Wednesday.
Ending soybean stocks for the 2021/22 business year are estimated at 325 million bushels, the US Department of Agriculture (USDA) said in its monthly report on global agricultural supply and demand.
The figure was below the government’s January outlook, which had forecast soybean inventories at 350 million bushels, but above the average market forecast of 310 million.
(Reporting by Mark Weinraub)
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