Soybean demand could be stronger than suggested

Soybean demand could be stronger than suggested

The soybean market may be stronger than the U.S. Department of Agriculture (USDA) suggests, according to DTN senior analyst Darin Newsom. He says the USDA tends to underestimate U.S. soybean demand.

"A lot of folks (including) some traders follow USDA, almost to a fault," Newsom said at Farmfest in Minnesota last week. "Others look at the spreads (and) look at the basis like I do, and they see a completely different picture."

Newsom suggests a tighter supply and demand situation supported by a weakening dollar moving into 2018, the Brownfield radio network reported. Newsom says there is strong resistance at the $10 level, but eventually new-crop soybeans could...

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