• US new crop soybean export sales are well below prior years and argue for WASDE to trim their 2015/16 soybean export estimate by as much as 150 million bu.
• China has secured large volumes of S American soybeans for September into early November.
• The US will not enjoy the huge export pace like last year during the harvest.
• This means that the US window to export soybeans is narrow and that the US may not see 2015/16 exports exceed 1,600 million bu

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