Soybean export sales in this week's USDA report totaled 1.9 MMT. That ranks as one of the top five weeks in history and exceeded only a few times back in 2009. Next week's report will also total more than 1 MMT based on announcements made earlier this week. USDA reported another 400,000 MT of soybean sales this morning. That's not bad during a period of time when the market chatter has been slow export interest.

Crops experts we know have been touring the central Corn Belt (Illinois & Iowa). They are somewhat appalled at the very late maturity of the soybean crop plus the lack of pods. We are hearing the same thing from our producer clients across the northern plains. Corn and soybean crops were planted late and temperatures...