June 5th, 2012

Soybean futures’ price decline last month offers a buying opportunity for consumers because demand for U.S. beans is expected to be “strong” in the September-to- February period, Oil World said.

U.S. soybean exports in the first half of the 2012-13 crop year are forecast to jump to 33.5 million metric tons from 24.2 million tons in the year-earlier period, the Hamburg-based oilseed researcher wrote in an e-mailed report.

Demand for U.S. beans is forecast to climb after drought cut the harvest in Brazil and Argentina, the biggest shippers after the U.S. in 2011-12, according to Oil World. Soybean futures fell 11 percent in Chicago in May, the biggest monthly drop since September amid expectations for a bigger U.S. crop.

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