One positive soybean export sale after six poor ones.

Sales of 613,534 tonnes were reported for soybeans. The trade estimate was 100,000 – 600,000. This was the best sale in seven weeks. USDA’s 1.755 billion bushel soybean export estimate is -13% from the five year average sale. Year to date sales are currently -15% from average. To meet USDA’s goal the remaining weeks through August need to improve to +3% from average. The prior six weeks were absolutely poor at -68% from average. Today's sale was a positive one at +49%. Brazil maintains its clear pricing advantage.

If remaining sales run -20% from average we'll miss USDA's current whole-year goal by 67 million bushels. If they run -40% the miss is -125 million. For Friday's report Allendale assumes -50 million bushels.

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