Can anyone interpert the below news clip pertaining to beans amidst the acreage reports, limit up beans, weaker basis etc.... "June 1 stocks in all positions were reported at a record 1.09 billion bushels, up 10% from June 1, 2006. Indicated disappearance during the March-May period was 696 million bushels, up 3% from last year. " Is this noteworthy ?? Any comments ??? http://www.futuresource.com/news/story.jsp?i=i4779878067505201216
There is a lot of noise out there ... However from a fundemantal perspective there are two key figures to keep an eye on: ending stock and stocks to usage ratios. They boil down the data to the bottom line: supply and demand. Ending stocks represents supply left over from last year's stocks. Stocks to usage is the amount of leftover soybeans vs. a full years worth of demand. Hope this helps!!!