Soy Stays Under $11 as USDA Sees Flat American Exports

Soybean futures maintained losses after the US Department of Agriculture in a monthly report predicted flat US supplies and slightly larger world output.

The agency’s December WASDE report lived up to its reputation as a relatively uneventful release for this time of year, with the data coming after American farmers have harvested crops. Even though China has been ramping up purchases of American crops, the agency made few adjustments to its export estimates.

“US soybean supply, use and price projections are unchanged this month,” the USDA said in its report.

World supplies were estimated at 122.4 million metric tons, ...