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Record Number of Soybeans Remain in Storage

USDA: More than 3.7B bushels of soybeans are sitting in bins in the U.S.

Grain bin

Record levels of soybeans are still in storage across the U.S. after the fall harvest, thanks to the trade war with China, the U.S. Department of Agriculture said in a new report that was delayed by the government shutdown.

The Star Tribune reports that more than 3.7 billion bushels of soybeans were sitting in bins in the U.S., an 18% increase compared to a year earlier, the USDA's latest survey found.

More farmers are waiting out low prices and hoping for progress on trade talks with China rather than selling at a loss.

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