Soybean export sales continue the recent positive pace.

This week's sale was reported at 2,151,743 tonnes. The trade estimate was 1,200,000 - 2,400,000. Overnight reported sales in this period came to 598,8000, 28% of the total.

There has been a clear reversal in export pricing. Today, Brazil holds a clear price advantage.

USDA's current goal for the year is 1.850 billion bushels. That would be -5% vs. the prior five year average. Current crop sales have improved to -17% vs. the five year average. The remainder of the year needs to run +7% vs. the five year average. This past week with strong sales was +20% vs. average. Last week was also strong at +15%.

Officially, sales are still behind USDA's goal. We have slowly made up some of the deficit and are still making sales. Next week's report will also be positive. But some skeptics may note these sales may be intentionally strong ahead of the election. What happens after that time is a question. Given Brazil's pricing, the Mississippi and other factors we remain moderately concerned.

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