Soybean Exports Already 81% of Forecast

Soybean export sales for the 2020/21 marketing year of 1,530.5 thousand metric tons (TMT) were 90.2TMT below last week’s total and 32 percent below the four-week average of 2,239 TMT. No sales were recorded for the 2021/22 crop season, leaving total sales to 1,530.5 TMT.  Combined crop year sales were six percent below last week’s total but within analyst estimates that ranged from 800 to 1,700 TMT. 2020/21 export commitments are 81 percent of the USDA forecast. Export sales are noticeably above the 2019/20 crop year pace. Major purchases were reported for Mexico, China, and Egypt.

Soybean meal sales for the 2020/21 marketing year of 331.4 TMT were 132 TMT above last week and 40 percent over the prior four-week average of 236 TMT. There were no sales for the 2021/22 crop seasons, leaving total sales at 331.4 TMT. Combined crop year sales were 66 percent over last…