Equity Analysis /
Thailand

Thailand: Agro & Food - Soybean: 2022/23 US soybean harvest progressing well

  • 2022/23 US SB harvest progressing well to-date

  • USDA’s Oct report—slightly negative led by Brazil’s output upgrade

  • Brazil’s 2022/23 record SB output; Argentina’s 2022/23 export jump

Bualuang Securities
28 October 2022

With USDA predicting a 2022/23 record soybean (SB) crop for Brazil and worldwide with decent conditions for the 2022/23 US SB crop, we think that the global SB price will move sideways in a US$13-15/bushel range. We rate TVO as a HOLD for a decent dividend yield.   

With USDA predicting a 2022/23 record soybean (SB) crop for Brazil and worldwide with decent conditions for the 2022/23 US SB crop, we think that the global SB price will move sideways in a US$13-15/bushel range. We rate TVO as a HOLD for a decent dividend yield.