The USDA says there was record amount of soybeans in storage on June 1st.
Stocks in all positions were up 47% on the year at 1.790 billion bushels, with a large 2018 crop and slow export demand canceling out improved second quarter usage; the indicated March through May 2019 disappearance of 937 million bushels was up 5% from March through May 2018. On farm stocks totaled 730 million bushels, an increase of 94%, while off farm supplies were 1.06 billion bushels, 26% higher.
Continue reading Soybean stocks at record levels at Brownfield Ag News.
