Weekly Export Sales – Released June 2, 2023

Weekly soybean export sales for May 25^th in the 2022/23 marketing year were 123.5 thousand metric tons (TMT), 8.5 TMT above last week’s total and 90 percent higher than the prior four-week average of 106.5 TMT. There were 301 TMT for the 2023/24 crop season, increasing total sales to 424.5 TMT. Combined sales were 265.5 percent over last week and well above analyst expectations ranging from negative 100 to 300 TMT. Accumulated export commitments are 92.9 percent of USDA the forecast and 14.3 percent under commitment levels for the year prior, with 14 weeks to go.  Major purchases made by Mexico (95,800 MT, including 10,900 – late), Indonesia (70,200 MT), Japan (22,600 MT), Colombia (17,200 MT), and Costa Rica (13,000 MT) for the…