U.S. soy stocks outlook cut as exports rise

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CHICAGO — U.S. soybean stocks will be smaller than previously forecast as export demand for U.S. offerings remains strong even with recently harvested supplies from Brazil and Argentina available for overseas buyers, the government said on Friday.

The U.S. Agriculture Department lowered its outlook for 2021/22 ending stocks of soybeans to 205 million bushels from 235 million. For the 2022/23 marketing year, the soybean stocks estimate was cut to 280 million from 310 million.

Analysts were expecting the USDA’s World Agricultural Supply and Demand Estimates report to show soy ending stocks of 218 million for 2021/22 and 307 million for 2022/23. (Reporting by Mark Weinraub)

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