Soybean prices down this month
Prices for soybeans and products are all projected lower this month, according to the latest USDA World Agricultural Supply and Demand Estimates (WASDE) report . The U.S. season-average soybean price range for 2012/13 is projected at $13.55 to $15.55 per bushel, down 35 cents on both ends of the range. The soybean meal price is projected at $440 to $470 per short ton, down 15 dollars on both ends of the range. The soybean oil price range is projected at 49 to 53 cents per pound, down 2 cents on both ends.
Global 2012/13 corn production is raised 9.4 million tons with China corn output up 8.0 million tons based on recent estimates from the National Bureau of Statistics.
Download the USDA WASDE report for December 11, 2012 from the link below (PDF)
December 12, 2012