Record soybean export sales for this week fail to support the trade.

US soybean export sales last week totaled 3,030,107 tonnes, all current crop. This was much over the 900,000 – 1,700,000 tonne expectation. This was a record sale in history for this specific week. It ran +171% vs. the five year average. The prior four weeks averaged -6%. To hit USDA’s goal remaining sales through August need to run -7% vs. normal. On our balance sheet we are using USDA’s current estimate. Chinese buying was positive last week at 1.5 million tonnes. Current purchases from China run 21.0 mt. In the prior two years, sales to China, ran 18.8 and 28.6.

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