Stock to Use Ratio For Soybeans and Corn Moves Lower

Soybean and soybean meal values continued higher on a weekly basis last week, rising three percent and five percent respectively on the CME.   The soybean complex is trading at its highest level since 2014.  The January WASDE report showed the stocks to use ration for soybeans dropped to 3.1 percent from 3.6 percent in December.  This is the lowest stocks to use ratio since 2013.  Last year the ratio was 13 percent. Tighter supplies make higher prices more likely and increase the volatility within the market.  Expect prices to remain well supported with supply as low as it is. Prices are lower on Monday as profit takers are getting out of positions and the soybean harvest in Brazil moves forward.  Speculators reduced their long exposure with money managers selling over 6,000 long contracts and adding more than 3,000 short…