|
|
Article: Pricing tight soy stocks.(Soybean industry)(Corn industry)
- Article from:
- Top Producer
- Article date:
- December 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Farm Journal Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
What will it take to ration U.S. demand to ensure at least pipeline stocks on Sept. 1, 2004? It may prove more difficult than first thought; $8 hadn't done so as of this writing.
The table below shows that if we maintain usage at last year's levels, we would have a negative 146-million-bushel carry-out. Instead, USDA reduces line items to result in a positive 124 million bushels.
The bean scenario is similar to that of corn in 1995/96. I am not sure what price it may take to cut the 250 million bushels from use shown in the table. We don't have as many small "in and outers" in the livestock sector to flex demand as we once did. Sure, South American beans ...