Weekly Export Sales

Soybean export sales for the 2016/17 marketing year dropped 48% to 211 TMT and were 63% less than the prior 4-week average. New crop sales totaled 14 TMT, down 89% week over week and lifting combined season sales to 225 TMT. Combined sales were down 57% from last week and less than analyst expectations that ranged from 350 to 750 TMT. 2016/17 export commitments are 101% of the USDA forecast with 20 weeks to go. Current sales are 25% ahead of last…