USDA reported soybean export sales for the week ending July 7th marked a new marketing-year low for the fourth week in a row. The last three weeks of lows come after shipping cancelations, likely by China. Speculation says China’s cancelation of soybean imports is due to high U.S. prices relative to Brazilian soybeans.

Soybeans have seen a net reduction of nearly 363,000 tons. Countries like the Netherlands and Germany have increased U.S. soy purchases, but China’s cancellations continue to ding total sales. As of July 7, soybean exports are at 2.185 billion bushels compared to 2.275 billion bushels last year. U.S. commodities like beef and cotton have also hit marketing-year lows. Meanwhile, corn, soybean product, sorghum and rice have also posted week-to-week declines.

Read more on U.S. ag exports here.