The US may be underestimating its soybean exports for this season

[SASKFARMER3]

The US may be underestimating its
soybean exports for this season. No
Shit.
Informa pegs Argentina soybean crop at
40 million tonnes. That is down 5
million tonnes from its early Apr.
estimate. Rumors in Brazil that there
will be no soy left in country by
August…….
Brazil might import soybeans later this
fall from USA?
And in Canada we are going to loose this
week and maybe next according to Drew
and Enviroment Canada.
One just has to say HMMMMMMMMMMMMMMMMMM

[SASKFARMER3]

Oh yea one more news article this morning.
Strategie Grains has cut its EU ****seed
forecast to 17.6 million tonnes, a 6-year
low and down from last year's 19.1 million
tonnes due to winter kill.

[bucket]

I was sort of wondering how winter canola could survive minus 20 temperatures. Europe will be like Brazil - estimates will keep dropping.

[charliep]

How much of this information is already built into the market and a factor in the close to $15/bu soybeans? Given the corn soybean price ratio, will US farmers expand soybean acres by 2 to 3 million?

I don't like the looks of the soybean oil chart.

[URL="http://www.farms.com/markets/?page=chart&sym=ZLN12"]july CBT soybean oil[/URL]

[hedgehog]

we are being told that canada has already seeded more of everything, where are the extra acres coming from?

[charliep]

South east Saskatchewan and parts of Manitoba had excess moisture/a lot of flooding in both 2010 and 2011 which prevented large areas from getting seeded the last couple of years. Realizing things are not perfect all the way across western Canada, conditions are better than what they were a year ago and therefore significantly more acres should get seeded. Current prices will encourage fence post to fence post crop seeding including pasture that has been pulled out of perennial production. I suspect the extra acres are there but your question/my response will get reaction.

[SASKFARMER3]

We get any more rain and we will start loosing
acres.

[furrowtickler]

Also the north east, east central will have less acres due to something called rotations. Fert availalbility and price will put a stop to extra acres regardless of canola price.... JMO