Soybean sales were the fourth lowest in over 30 years.

Sales of 55,919 tonnes were reported for soybeans. The trade estimate was 300,000 – 800,000. This was the fourth lowest sale for this specific week in over 30 years. USDA’s 1.755 billion bushel soybean export estimate is -13% from the five year average sale. Year to date sales are currently -14% from average. To meet USDA’s goal the remaining weeks through August need to improve to -5% from average. There are now five problem sales weeks. They have run -66% from average. This week in that grouping, was -93% from average. Brazil maintains its clear pricing advantage.

If remaining sales run -20% from average we'll miss USDA's current whole-year goal by 51 million bushels. If they run -40% the miss is 118 million. We had been -20 million from USDA on our whole year balance sheet. That is now widened that miss to -50.

‍