Soybean export sales for the 2019/20 marketing year were 50.4 thousand metric tons (TMT), which were 63.1 above last week’s total but 82 percent below the four-week average of 275.9 TMT. New crop sales totaled 4,308.3 TMT, lifting total sales to 4,358.8 TMT. Combined crop year sales were 70 percent over last week’s total and exceeded analyst estimates that ranged from 700 to 1,300 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, China, and Spain.
Soybean meal sales for the 2019/20 marketing year of 53.2 TMT were 19 TMT over last week’s total but 63 percent below the prior four-week average of 145 TMT. New crop sales totaled 97.6 TMT, lifting total sales to 150.8 TMT. Combined crop year sales were 21 percent below last week’s report but within…
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