June 1st Soybean Stocks
NASS reported June 1 soybean stocks at 1,790 Mil Bu, a 571 Mil Bu increase from last year, but 66 Mil Bu less than expectations. March 1st stock was revised upwards by 11 Mil Bu, while AgResource estimates the Mar-May residual at +32 Mil Bu. Typically, the quarterly residual is negative – implying “found bushels.”…