Soybeans struggle for 11 weeks.

Sales of 194,220 tonnes were reported for soybeans. The trade estimate was 200,000 – 600,000. USDA’s 1.755 billion bushel soybean export estimate is -13% from the five year average sale. Year to date sales are currently -18% from average. To meet USDA’s goal the remaining weeks through August need to improve to +37% from average. This week was a clear miss at -79%. Including this week, the recent eleven week trend is -62%.

If remaining sales run anywhere from even with the long term average to -40% the miss vs. USDA's goal will range from -70 to -145 million bushels.

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