Weekly Export Sales

Soybean export sales for the 2016/17 marketing year dropped 17% to 402.3 TMT and were 32% less than the prior 4-week average. New crop sales totaled 124.7 TMT, down 68% week over week and lifting combined season sales to 527 TMT. Combined sales were down 40% from last week, yet in line with analyst expectations that ranged from 450 to 900 TMT. 2016/17 export commitments are 101% of the USDA forecast with 21 weeks to go. Current sales are 24% ahead…