Rabo Ag Focus - US soybeans
FAR New York's analyst Michael Whitehead describes the soybean market in the U.S. and its outlook in this country banking report. Summarized he finds that soybeans are a vital source of animal feed, food products and industrial inputs. Global soybean production is dominated by the U.S., Brazil and Argentina, who account for over 80% of global output. However, forecasts for a rapid rise in corn production as a result of the burgeoning ethanol market and lower cost of fertilizer could squeeze the amount of land available in the U.S. for soybean acreage.
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