Soybean export sales for the 2019/20 marketing year of 663.1 thousand metric tons (TMT), were down 425.2 TMT from last week but 19 percent over the prior four-week average of 548 TMT. New crop sales totaled 177.5 TMT, lifting total sales to 830.7 TMT. Combined crop year sales were down 30 percent from last week but within analyst estimates that ranged from 400 to 1,350 TMT. 2019/20 export commitments are 82 percent of the USDA forecast and need to average 506 TMT per week to meet expectations. Export sales are 12 percent below the 2018/19 crop year pace. Major purchases were reported for China, Mexico, and Egypt.
Soybean meal sales for the 2019/20 marketing year of 131.4 TMT were down 32.2 TMT from last week and 15 percent below the prior four-week average of 155 TMT. New crop sales totaled 39.8 TMT, lifting total sales to 171.2 TMT. Combined crop year sales were down 23…
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