Weekly soybean export sales for the 2021/22 marketing year of 671 thousand metric tons (TMT), were 9 percent below last week’s sales but 12 percent over the prior four-week average of 597 TMT. There were 528 TMT in sales recorded for the 2022/23 crop season, lifting total sales to 1,199 TMT. Combined crop year sales were 31 percent above last week and within analyst estimates that ranged from 700 to 1400 TMT. 2021/22 export commitments are 77 percent of the USDA forecast with 32 weeks remaining in the current crop season. Export sales are 25 percent below the 2020/21 crop year pace. Major purchases were reported for China, Mexico, and Spain.

Soybean meal sales for the 2021/22 marketing year of 314.9 TMT, were 202 percent above last week’s total and 149 percent over the prior four-week average of 126 TMT. There were 201.7 TMT of sales recorded for the 2022/23 crop season, lifting total sales to 516.6 TMT. Combined crop year…