One disappointing week for wheat export sales. Year to date is still strong.

240,351 tonnes were sold in this 6/28 - 7/4 week. The trade estimate was 300,000 - 700,000.

USDA’s 775 million bushel new crop export goal, for the year that started June 1, is -6% from the five year average sale. Year to date sales are +10% vs. average. To meet USDA's goal we only need to run -13% vs. average through next May. Today's sale was a low week at -25% vs. average. We do not expect this negative week to continue. It is quite early in the year to take a strong stance on exports but so far, we are ahead.

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