Subject: USDA Estimates Help Soybeans To Recover - Free Sample Newsletter

From: David Tedrow <[email-masked]>
Date: Sat, 14 Dec 1996 09:59:26 -0800

>From  ‘The Seasonal Trader"
Soybean bulls took back command in the soybean futures pit over the past
week. The USDA dropped its estimate of this season's soybean carryover
by thirty million bushels in the December Supply/Demand Report. We think
the carryout will drop below 150 million bushels with a normal soybean
crop in Brazil/Argentina and 100 million bushels if either country has a
short crop this winter (austral summer).

Wheat traders were treated to some long absent bullish news last week
when Iraq and India became wheat buyers for the first time in years.
Russia is also looking for wheat, but probably does not have the foreign
currency to buy more than token amounts. These developments might
support wheat prices for a time, but we doubt the basic thrust toward
lower prices this winter and next spring has been stopped.      
   
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