USDA: Soybean exports surge to 1.3 million tons

12/17/2012 |

The U.S. Department of Agriculture reported soybean export sales of more than 1.3 million metric tons in the most recent week, or roughly double the 600,000 to 850,000 metric tons predicted. The agency reduced its forecast for 2012-13 soybean ending stocks to 130 million bushels, which would be a nine-year low. "Quite likely, we are going to see that drop even more in the future," said Karl Setzer, a commodity trading adviser and market analyst at MaxYield Cooperative.

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