Meal export sales slacken modestly

U.S. Soybean meal export sales totaled 10.5 million short tons (for 2019/2020 delivery) in early May which was off from 11.4 million tons at the same time year ago. We have scattered crop year exports using Early May sales as a barometer. Note the point in red  representing the USDA’s current meal export estimate (13.45 million ton ) is a little on the high side of historical experience The USDA could cut old crop meal exports modestly in next week’s WAOB  report.