The agency’s December WASDE report lived up to its reputation as a relatively uneventful release for this time of year, with the data coming after American farmers have harvested crops. Even though China has been ramping up purchases of American crops, the agency made few adjustments to its export estimates.
“US soybean supply, use and price projections are unchanged this month,” the USDA said in its report.
World supplies were estimated at 122.4 million metric tons, ...