Weekly Export Sales 

Soybean export sales for the 2019/20 marketing year were a marketing year low of negative12.7 thousand metric tons (TMT), which were 583 below last week’s total and 104 percent below the four-week average of 356 TMT. Current year sales were more than offset by over 370 MT of cancellations. New crop sales totaled 2,573 TMT, lifting total sales to 2,560.5 TMT.  Combined crop year sales were 25 percent below last week but within analyst estimates that ranged from 1,200 to 3,900 TMT. 2019/20 export commitments are 106 percent of the USDA revised forecast. Export sales are two percent below the 2018/19 crop year pace. Major purchases were reported for the Netherlands, Indonesia, and Spain.

Soybean meal sales for the 2019/20 marketing year of 34.5 TMT were 148 TMT below last week’s total (a marketing year low) and 77 percent below the prior four-week average of 148 TMT. New crop sales totaled…