April 2009 Soybean Outlook

The soybean market has become a tale of two crops. The old crop soybeans, harvested last fall and the new crop soybeans that will be planted this spring. Last year soybean acres fell as the price of corn soared and ethanol demand seemed insatiable. This year the insatiable demand has been for soybeans from China. In addition to their normal demand, China bought soybeans to build reserve stocks. This hoarding may have been in response to concerns over the tight US stocks situation. New crop soybean price prospects are not as optimistic. Additional acres and slowing bio fuel demand should help rebuild US soybean stocks this year.Get your Outlook report now.