Soybean sales falter for 10 weeks.

Sales of 263,859 tonnes were reported for soybeans. The trade estimate was 300,000 – 700,000. 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 +20% from average. This week was -22%. Including this week, the recent ten week trend is -60%.

If remaining sales run anywhere from even with the long term average to -40% the miss vs. USDA's goal will range from -43 to -132 million bushels.

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