USDA says the soybean supplies will be short by the end of summer – too short, unless
the pace of domestic crushings slows. Minimum soybean levels, called pipeline levels,
are normally five percent of projected annual usage. For soybeans this market year,
pipeline levels could be as low as four percent, or one hundred twenty-five million bushels.
September’s grain stocks report from USDA will put a number on leftover bushels, and
some leftover is expected because market prices for what is left will skyrocket until
Uncertainty persists on new crop beans – as an August crop, their yield is determined
mainly by late summer weather.