The Weekend Fix
Some things to think about.
The USDA March 1 Stocks report on March 31, 2017 exposed the year-over-year increase in soybean inventories for the western producing states. The states of NE, KS, ND, and SD had a combined 90.2 million more bushels in inventory than a year ago. This represents 44% of 203 million bushel increase for total U.S. soybean March 1 stocks over 2016. Coincidentally, the USDA Prospective Planting report yesterday identified these same states increasing soybean acres for 2017. These four western states intend to plant 2.5 million more acres of soybeans in 2017.
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