Friday, June 12, 2009

Breaking News-RTRS-ANALYSIS-US soy markets poised for volatile summer

CHICAGO, June 10 (Reuters) - U.S. soy markets are poised for another season of volatility, with shrinking supplies and the record new crop possibly leading to price swings as extreme as they were last summer.
The U.S. Department of Agriculture on Wednesday confirmed private forecasts for domestic soybean stocks to shrink by August to their lowest level in 32 years.
But the agency also forecast a record large 2009 U.S. soy crop -- setting the stage for some wild price swings given the sharp contrast between the two.