Soybean Meal Exports Reach Marketing Year High

Weekly soybean export sales for the 2020/21 marketing year of 1,817.7 thousand metric tons (TMT) were 910 TMT above last week’s total and 287 percent over the four-week average of 470 TMT. There were 831 TMT in sales recorded for the 2021/22 crop season, lifting total sales to 2,648.7 TMT.  Combined crop year sales were 115 percent over last week’s total and exceeded analyst estimates that ranged from 800 to 1,700 TMT. 2020/21 export commitments are 95 percent of the revised USDA forecast. Export sales are 84 percent above the 2019/20 crop year pace. Major purchases were reported for Mexico, China, and the Netherlands.

Soybean meal sales for the 2020/21 marketing year of 468.5 TMT, a marketing year high,  were 131 TMT over last week and 146 percent above the prior four-week average of 190 TMT. There were no sales recorded for the…