Soybeans: Weekly Export Inspections

Soybean export inspections very disappointing, marketing year low at 5.2 mb. That’s the 4th week in a row that exports have come in below the level needed to reach USDA’s estimate. We need about 14.2 mb shipped weekly to reach USDA’s estimate. The last few weeks have been disappointing but we do believe we’re going to see some 15-25 mb totals as we get deeper into the crop year and Brazil’s exportable surplus begins to shrink.