Weekly Export Sales 

Soybean export sales for the 2019/20 marketing year of 344.9 thousand metric tons (TMT), were up 100 TMT from last week but 48 percent below the prior four-week average of 657.5 TMT.  New crop sales totaled 500 MT, lifting total sales to 345.4 TMT.  Combined crop year sales were up 13 percent from last week but below analyst estimates that ranged from 350 to 1,050 TMT. 2019/20 export commitments are 79 percent of the USDA forecast and need to average 544 TMT per week to meet expectations. Export sales are 15 percent below the 2018/19 crop year pace. Major purchases were reported for Spain, Bangladesh, and Egypt.

Soybean meal sales for the 2019/20 marketing year of 102.9 TMT were down 56 TMT from last week and 43 percent below the prior four-week average of 182 TMT. New crop sales totaled 15.5 TMT, lifting total sales to 120.6 TMT. Combined crop year sales were down 25 percent from last week’s report but…