USDA reports soybean and wheat exports for the week ending July 22 were above pre-report projections while corn was within estimates and soybean meal and oil were below all expectations. Physical shipments of corn, soybeans and wheat were all less than what’s needed weekly to meet USDA projections for the current marketing year.
Soybeans were pegged at 339,000 tons (12.5 million bushels), a significant increase from the week before and 4% higher than the four week average.