In the latest World Agricultural Supply and Demand Estimates Report, U.S. soybean ending stocks for 2015-16 are projected at 450-million bu.
That's up 10-million from last month due to a lower crush.
Soybean production, trade, and other uses remain unchanged. Meal exports are reduced on sluggish shipments and sales as well as greater expected competition from Argentina where larger projected soybean supplies boost soybean meal exports.
Soybean oil stocks are projected lower as reduced production more than offsets larger imports and a higher extraction rate. Soybean oil imports are raised on large shipments from Canada.
The 2015-16 season-average soybean price range projection is unchanged at $8.05/bu to $9.55/bu.
Soybean meal and oil price projections are also unchanged at $270 to $310 per short ton and 28.5 to 31.5 cents per pound, respectively.
