Analyst anxious to see latest soybean carryout estimate

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Analyst anxious to see latest soybean carryout estimate

Analysts are anxious to see what number the USDA gives soybean carryout when the December supply and demand estimates are released tomorrow.

Karl Setzer with AgriVisor LLC says trade guesses range from 120 to 190 million bushels.

“I’ve got a feeling that is probably where we’re going to fall, if we see a decline at all. I don’t think it’s going to be substantial.”

The November carryout was 190 million.

He tells Brownfield while domestic production hasn’t changed, it would not be surprising to see a slight reduction because of exports.

“The thing is, and this is the wildcard, we have seen a slowdown in our sales here in recent weeks. USDA might be willing to leave that number unchanged until we get to the January report.”

Setzer says that report could really be a market driver because it will provide the final production numbers for 2020.

The USDA’s latest supply and demand report comes out tomorrow morning at 11 Central.

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