Soybean export sales also down sharply from last week, in fact the second lowest of the marketing year. Only one week around January 1st was lower than the sales we seen this week.
We are not expecting export sales to remain in the 1-2mmt on a significant basis, but we should see export sales consistently running above or at the level needed to reach the USDA forecast.
We do believe that US export sales will be far above the current projections, but todays numbers were fairly disappointing.