AgResource Analysis of USDA’s Oct Reports
In the global oilseed balance sheet, the estimate for world soybean production declined by 1.8 MMTs from September to 401.3 MMT, and if realized, global production will be 29 MMTs larger than a year ago. Versus September, US production was down 1.1 MMTs and was 4.5 MMTs less than last year. The USDA held the…