USDA REPORT MOSTLY AS EXPECTED BUT SOYBEAN COMPLEX PRICES RALLY ON SMALLER-THAN-EXPECTED PRODUCTION FORECAST

In its monthly World Agricultural Supply and Demand Estimates (WASDE) report, USDA raised its forecast of the 2018/19 US soybean carryout 40 million bushels to 885 million. USDA’s October ending stocks projection was in line with market expectations of 898 million bushels and with The Jacobsen’s ending…