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USDA: the 2014/15 soybean ending stocks to rise to eight years

Number of visits: Date:2014-02-24

Washington, Feb. 21 news: according to the U.S. department of agriculture (USDA), an economist at the annual forecast, according to data released Friday 2014/15 2014/15 U.S. soybean ending inventory is expected to be 285 million bushels, higher than that of the current annual inventory is expected to 150 million bushels nearly doubled, and create the highest level in eight years.

United States department of agriculture (usda) economic research (ERS) economist mark ashton said the inventory increase because the harvest of soybean production in 2014 will increase to 3.55 billion bushels, year-on-year growth of 7.9%, to 3.55 billion bushels, because soybean yield will reach a record 45.2 bushels per acre.

Ashton said, due to the weather to improve, 2014 U.S. soybean yield is likely to improve.Despite the global soybean production is expected to decline, but the ending soy large inventories, will lead to the United States exports continue to face the pressure of competition, so the price will continue to fall.

Ashton said began on September 1, 2014 in 2014/15, the average American farmers sell soybean prices will fall to $9.65 a bushel, below this year's $12.70 a bushel.

Ashton said that the United States share in global soybean trade will remain at current levels, the main reason is the fierce competition from South America.South American soybean export supply could reach record levels.

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