AGRIBUSINESS: Soybean Exports Unsustainable
Exports numbers released Wednesday revealed that, despite USDA carryout estimates, soybean sales are moving at an unsustainable pace.
Net sales reached a high for the 2012/2013 marketing year at 1.3 million MT. That figure is up 16% from last week and China, unsurprisingly, was the biggest buyer.
At this rate the U.S. is on track to run out of soybeans before the new crop is available on the market.