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USA on brink of storage crisis for soyabeans

USA on brink of storage crisis for soyabeans

USA on brink of storage crisis for soyabeans Soyabean production is forecast by the US Department of Agriculture (USDA) to hit a record 4.69bn bushels this year, a 6% increase from 4.411bn bushels in 2017, according to its 11 October crop report. And with China spurning US soyabeans in its ongoing trade war with the country, the USA faces a glut of soyabeans as supplies carry over from the 2018/19 marketing year. putting pressure on the grain storage system in states that are major grain producers.US storage capacity at 1 December 2017 was 13.45bn bushels, according to the US Department of Agriculture (USDA) January Grain Stocks report. Accounting for 60% of US on-farm storage capacity was 2.1bn bushels in Iowa, 1.55bn bushels in Minnesota, 1.47bn bushels in Illinois, 1.18bn bushels in Nebraska, 900M bushels in North Dakota and 850M bushels in Indiana.

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