Core Viewpoint - The USDA's July report indicates an increase in the projected ending stocks of soybeans for the 2025/2026 marketing year in the United States, rising to 310 million bushels from the previous estimate of 295 million bushels in June, reflecting a month-over-month increase of 15 million bushels [1] Group 1 - The projected ending stocks for U.S. soybeans in the 2025/2026 marketing year are now estimated at 310 million bushels [1] - The previous estimate in June was 295 million bushels, indicating a significant upward revision [1] - The month-over-month increase in soybean ending stocks is 15 million bushels [1]

Core Insights - The USDA's July forecast for the 2025/2026 U.S. soybean production is set at 4.335 billion bushels, slightly above market expectations of 4.334 billion bushels [1] - The July forecast for the 2025/2026 U.S. soybean ending stocks is projected at 310 million bushels, exceeding market expectations of 302 million bushels [1] - The July forecast for the 2025/2026 U.S. soybean yield is anticipated to be 52.5 bushels per acre, aligning with market expectations of 52.5 bushels per acre [1]

美国农业部：6月美国2025/2026年度大豆产量预期为43.4亿蒲式耳，市场预期为43.4亿蒲式耳。6月美国 2025/2026年度大豆期末库存预期为2.95亿蒲式耳，市场预期为2.98亿蒲式耳。6月美国2025/2026年度大 豆单产预期为52.5蒲式耳/英亩，市场预期为52.5蒲式耳/英亩。 ...