Weekly Export Sales 

Soybean export sales for the 2020/21 marketing year of 2,591.2 thousand metric tons (TMT) were 603.5 TMT below last week’s total and 18 percent under the four-week average of 3,147 TMT. There were no sales for the 2021/22 crop season, leaving total sales at 2,291.2 TMT.  Combined crop year sales were 19 percent below last week’s total but exceeded analyst estimates that ranged from 1,600 to 2,500 TMT. 2020/21 export commitments are 61 percent of the USDA forecast. Export sales are noticeably above the 2019/20 crop year pace. Major purchases were reported for Mexico, China, and Pakistan.

Soybean meal sales for the 2019/20 marketing of 13.6 TMT were 15 TMT below last week and 15 percent under the prior four-week average of 16 TMT. New crop sales totaled 523.1 TMT, lifting total sales to 536.7 TMT. Combined crop year sales were 66 percent above last week’s report and exceeded analyst…