Soybean

The USDA has released the latest World Agricultural Supply and Demand Estimate. This report provides comprehensive forecasts of supply and demand for major U.S. and global crops and livestock.

The latest FAO Food Price Index was released today, citing an increase of 12 points from June. While the Index averaged 213 points in July, it remains well below the peak levels reached in February 2011.

FEWS NET has released its latest Monthly Price Watch , citing continuing rising prices for many staple commodities. US maize prices rose by 20% in July due to the ongoing drought in the Midwest; drop losses in both the US and South America have contributed to increased prices for soybeans and soybean oil as well. International wheat prices also increased in June and July due to expected shortfalls in the European Union, Russia, and Kazakhstan.

Global soybean prices hit an all-time high on Monday in the wake of continuing hot, dry weather across the US Midwest. In addition to pushing prices higher, the drought and subsequent declining soybean stocks and lower expected exports are also causing a period of excessive price volatility in the commodity. It is the first time such a period has been seen for soybeans since December 2010.

The latest USDA World Agricultural Supply and Demand Estimates has been released, citing sharply lowered US production and supply estimates for both corn and soybeans. The reduction in US supplies is expected to impact global supplies and trade as well.

Global soybean production is projected at 267.2 million tons, a decrease of 3.9 million tons that can be attributed largely to lower production in the United States. US soybean exports for 2012/13 have been reduced 115 million bushels to 1.37 billion.