The mayor of Sorriso, Brazil's leading soybean producer, plans to attract investments for the local grain crushing industry, highlighting the region's global agricultural potential and promoting the establishment of new crushers.
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USDA monthly outlook reported that soybean crops are expected to reach a record high harvest in six years, thus lowering the price in CBOT. Two other U.S. major crops, corn and wheat also estimated to produce higher than expected result.
China’s barriers to imports of some U.S. genetically modified crops are disrupting seed companies' plans for new product launches and keeping at least one variety out of the U.S. market altogether.
A combination of record imports and record U.S. soybean production look set to knock soybean meal prices sharply lower over the final months of 2014.
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