“Soybean exports at 9 million were below expectations. Old crop sales at under 2 mil. were a MY low while YTD commitments at 1.509 bil. are down 18% from YA vs. the USDA forecast of down 20%. Old crop shipments to China have reached 11.9 mmt while no additional new crop purchases. New crop commitments at 89 mil. bu. while still historically low, they are a 3-year high, up 52% YOY.  Meal sales at 414k tons were in line with expectations with old crop commitments up 17% YOY vs. the USDA forecast of up 9.5%. Oil commitments slipped to 826 mil. lbs. down 65% YOY vs. USDA forecast down 58%,” Soderberg said.