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Awful lot of air under that $8.

If you look back at where monthly USDA soybean prices were over the past 20 years and it looks like there's a awful lot of air under $8.  And the next step down was just above $6.

  If you add the 7.4 MMT (272 M bushels) the Chinese have purchased (?) but haven't taken delivery of to the WASDE's 970 M bu. then you can get to 1200 million bushel carryout pretty quick. 

  We've never been anywhere near 1200 million before.  In fact, we've never been near 970 M bushel before.

  Kinda takes your breath away, doesn't it?

monthly soy price USDA-page-001 (1).jpg
WASDE Sept bean stocks-page-001.jpg
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Veteran Advisor

Re: Awful lot of air under that $8.

Thank you donald
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