date:May 26, 2016
soybean plantings, Rabobank said, forecasting that US stocks will grow to 465m bushels over 2016-17 rather than falling to 305m bushels as the USDA has predicted.
Excellent growing conditions
For corn too, the bank, while nudging its price forecasts higher, and seeing value hit $4.00 a bushel early next year, was more pessimistic than investors, who are pricing in a breach of $4.00 a bushel by September.
Terming overoptimistic USDA estimates for US corn exports and domestic demand in 2016-17