date:Oct 01, 2012
ght, a lower crop abandonment rate and a bigger yield than thought too.
The 2011 harvest was pegged at 3.094bn bushels, some 38m bushels higher than the previous estimate.
The initial market reaction to the data was to send soybean prices down nearly to the lowest since early July before futures recovered most of their losses, helped by the announcement of a further sale of the oilseed to China, of 180,000 tonnes, taking the total in two days nearly to 300,000 tonnes.
'Very strong demand'
Th