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Old crop soybean exports hit marketing year low

The USDA says export sales of several major commodities declined during the week ending May 26th. That’s due to several factors including relative strength in the U.S. dollar against some other major currencies, global supply chain issues, and competition from other exporters. Old crop soybean, soybean oil, wheat, sorghum, and rice sales were all down on the week and pork and beef also fell back from the previous week’s levels, while old crop corn, soybean meal, and cotton moved higher.