USDA release soybean 2010/11 crop production will 3.483 billion bushels , increase from 3.359 billion bushels last year (record) and more than trade estimates around 3.41 billion bushels.
Soybean yield average 44.7 bushel per acre in 2010/11 , rise from record 44 bushels per acre in 2009/10 and larger than estimates at 43.7 bushels per acre.
US soybean 2010/11 ending stock is 350 million bushels, decrease from 360 million in USDA August estimated but larger than trader forecast 303 million bushels.
Supply still bearish for soybean prices, CBOT soybean Nov can't break resistance at 1047 cent/bushel that increase probability of soybean price will decrease to trading range 1020-1000 cent/bushel.
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