Mumbai, 09 Nov (Commoditiescontrol): The USDA’s November 2024 WASDE report projects U.S. soybean production at 4.461 billion bushels, with yields steady at 51.7 bu/acre. Harvested acreage increased, bringing total supply to 4.818 billion bushels, supported by higher beginning stocks.
Demand remains robust, with crush expected at 2.410 billion bushels and exports at 1.825 billion bushels. Ending stocks are forecasted to rise to 470 million bushels, lifting the stocks-to-use ratio to 10.8% and reducing the average farm price projection to $10.80/bu, indicating improved market stability.
The USDA’s latest WASDE update suggests a more balanced soybean market, with ample supply projected to meet strong demand, potentially easing price pressures.
(By Commoditiescontrol Bureau; +91-9820130172)
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