Soybean quotations started growing again during the trading session on February 8, 2013. The oilseed culture has gained in price due to higher demand for American supplies right before the publication of February report of US Ministry of Agriculture. Another program balance is issued today, and within it analysts will supposingly announce about the shortage of soybean stocks in the USA to the nine-year minimum.
“Market Leader” informs that March contracts have increased by 0.5 percent, to 14.94 dollars per bushel at Chicago exchange.
In comparison to last year, export sales of 2012-2013 season yield have increased more than twice, to 896 166 tons during the week that finished on January 31. Supplies for the next marketing year, which starts on September 1, have been sold in the quantity of 771 040 tons. In 2012 the USA was the largest country-soybean producer.
US soybean stocks are expected to drop to до 3.5 mln. tons by August 31, 2013, till the time of new yield harvesting, which is 3.6 mln. tons less than previously predicted by US Ministry of Agriculture.
