Soybeans: Weekly Export Sales

Weekly export sales for beans were very low at just 56 tmt but it is still double the level needed to reach USDA’s export forecast. We really don’t need much in the way of new sales to reach USDA’s export forecast. Right now we’re pretty much on track to hit USDA’s target. But if Brazil continues to ship extremely heavily off its record crop and they begin to exhaust their available supply, any new sales of decent size in the June, July, or August timeframe would allow us to exceed USDA’s total but as of today we’re somewhat on track to reach USDA’s target in beans.