JonSCKs - 2/14/2019 12:01
The realization that soybean demand is well overstated. See below.
Again the world numbers DO NOT ADD UP..
China did not import 20 mmt's of US Soybeans..
So far the WASDE has cut their demand by 6.1 mmt's with possibly more to go..
Flip side the WASDE ESTIMATES also have South American production OVERSTATED by 5+ mmt's
Someone is going to need to fill what's left of that 20 mmt hole..
be that the rest of the world.. who now must come to the US vs Brazil's beans... going to China.. and source THOSE beans from US.. OR China directly.
"it has to come from somewhere.."