Soybean crop is projected to jump versus a year ago – Charles Schwab

The 2020/21 outlook for US soybeans is for higher supplies, crush, exports, and lower ending stocks compared to 2019/20, per Charles Schwab.

Key quotes

“The soybean crop is projected at 4.125 billion bushels, up 568 million from last year on increased harvested area and trend yields.”

“US soybean exports are forecast at 2.050 billion bushels, up 375 million from the revised forecast for 2019/20. With higher global soybean import demand for 2020/21 led by expected gains for China, US export share is expected to rise to 34 percent from the 2019/20 record low of 30 percent.” 

“US ending stocks for 2020/21 are projected at 405 million bushels, down 175 million from the revised 2019/20 forecast.”