Good morning,
Well you will see that anomalous weekly sales number on my charts for years to come! Soybean export sales for this week were reported at 2,509.5 TMT and is the second biggest weekly sales total for the current marketing year. Daily announcements had been coming out about sales to China and unknown over the last few weeks but it reinforces the delays in shipping and drought out of SA that have emerged and the shifting of some demand to the US in the short term. Total commitments still lag behind last year at this point by 8.6% and the USDA balance sheet only reflects a 3.4% decline in exports so some ground still needs to be made up to reach the current estimate.
Corn weekly sales of 1,857.6 still reflects strong demand and total commitments stand at 79% of the current USDA export estimate and sales need to average 421 TMT per week to meet that estimate.
Have a good day,