Soybean sales continue nine weeks of weakness.

Sales of 494,028 tonnes were reported for soybeans. The trade estimate was 250,000 – 800,000. USDA’s 1.755 billion bushel soybean export estimate is -13% from the five year average sale. Year to date sales are currently -16% from average. To meet USDA’s goal the remaining weeks through August need to improve to +17% from average. This week was -18%. Including this week, the recent nine week trend is -61%.

If remaining sales run anywhere from even with the long term average to -40% the miss vs. USDA's goal will range from -39 to -132 million bushels.

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