US Soybean Export Commitments Lowest in 10 Years. “Pace Analysis” Suggests USDA’s Projection is Too High.
Summary: This week, US soybean export sales were 1.73 MMT. That was well above trade expectations. In the September WASDE, the USDA left their projection of US exports unchanged at 1,775 Mil Bu. ARC projects exports to be 1,775 Mil Bu. However, we fear that exports will be lower if China does not import at…