CHICAGO, March 10 (Reuters) - Global soybean supplies will be bigger than previously forecast due to increased harvest expectations in Brazil and Argentina, the U.S. government said on Tuesday.
World soybean ending stocks for the 2019/20 marketing year were pegged at 102.44 million tonnes, according to the U.S. Agriculture Department’s World Agricultural Supply and Demand Estimates report. That compares with the USDA’s February forecast of 98.86 million tonnes.
Analysts had been expecting the monthly report to show soybean stocks of 99.33 million tonnes. (Reporting by Mark Weinraub Editing by Chizu Nomiyama)