The USDA says combined old and new crop soybean export sales during the week ending February 17th topped 2 million tons. Egypt was the biggest buyer of old crop U.S. beans, while China led the way for new crop. The recent spike in U.S. soybean sales can be linked to declining production projections for South America. Corn, wheat, pork, rice, and cotton export sales all showed week-to-week improvements. The USDA’s next set of supply and demand estimates is out March 9th.
