Weekly Export Sales

Soybean export sales for the 2016/17 marketing year dropped 3% to 471.6 TMT and were 15% less than the prior 4-week average. New crop sales totaled 225.8 TMT, lifting combined season sales to 697.4 TMT. Combined sales were up 35% from last week and exceeded analyst expectations that ranged from 400 to 600 TMT. 2016/17 export commitments are 96% of the USDA forecast with 25 weeks to go. Current sales are 23% ahead of last year’s pace. Major…