Argentine risk overshadowed poor soybean export sales.

US soybean export sales last week totaled 360,669 tonnes for current crop. This was within the 300,000 – 850,000 tonne expectation. It was -58% vs. the five year average. The prior four weeks averaged -42% vs. the five year average. These are poor sales. We've discussed the idea before that US soybean sales certainly would fall, both in quantity and vs. the five year average. But this drop, now for four weeks has been harder than we expected.

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