Soybean export sales miss in 13 of the past 15 weeks.

Brazil's pricing advantage has narrowed in recent months. But is still remains. The current port to port pricing is $18.40 per metric tonne in Brazil's favor, $0.50 per bushel.

Sales of 413,957 tonnes were reported for soybeans. The trade estimate was wide at 100,000 – 700,000.

USDA’s 1.700 billion bushel soybean export estimate is -14% from the five year average sale. Year to date sales are currently -17% from average. To meet USDA’s goal the remaining weeks through August need to improve to +38% from average. Of the past 15 weeks, including this week, 13 have been below the needed amount.

If remaining sales “improve” to even with average we'll miss USDA's goal by -52 million bushels. If they run -20% the miss is -79.

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