The U.S. Department of Agriculture’s soybean-ending-stocks forecast of 425 million bushels for the marketing year may show little if any change in the World Agricultural Supply and Demand Estimates report.
Despite the recent strength in soybean crush, the current focus is squarely on the impacts of the coronavirus and the implications for both crush and exports as the disease continues to evolve.
Uncertainty about the impacts of coronavirus looks to set market expectations during the near term. Soybean prices will reflect that uncertainty. Volatility appears set to remain extreme. Developments in soybean-product export markets seem destined to determine ending stocks this year.
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