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Beef export sales notch marketing year high as pork falls below average

Beef export sales soared to a marketing year high during the week ending March 5^th.  The USDA says the leading beef buyers were the key global markets of South Korea and Japan. Pork sales fell to a marketing year low, with a number of the usual customers purchasing below average amounts. Soybeans, wheat, sorghum, and cotton also saw week-to-week improvements. Export demand is driven by several factors, including the value of the dollar, geopolitics, and seasonal supply changes. The USDA’s next round of supply and demand numbers is out April 9^th.

Physical shipments of corn and soybeans were more than what’s needed to meet USDA projections for the current marketing year. The 2025/26 marketing year began June 1^st for wheat, August 1^st for cotton and rice, September 1^st for corn, sorghum, and soybeans, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 455,400 tons (16.7 million bushels), up sharply from the week ending February 26^th and 49% from the four-week average. Mexico purchased 238,600 tons and China (68,900 tons). In the final quarter of the 2025/26 marketing year, wheat exports are 863.5 million bushels, compared to 773.4 million in 2024/25. Sales of 40,400 tons (1.5 million bushels) for 2026/27 delivery were mainly to Honduras (23,400 tons) and Colombia (12,000 tons).

Corn was reported at 1,530,800 tons (60.3 million bushels), down 24% from the previous week and 2% from the four-week average. Japan picked up 670,000 tons and Mexico purchased 367,600 tons, while unknown destinations canceled on 233,700 tons. Very early in the back half of the marketing year, corn exports are 2.619 billion bushels, compared to 1.989 billion this time last year. Sales of 500 tons for 2026/27 delivery were to Japan.

Sorghum sales of 99,800 tons (3.9 million bushels) were quite a bit higher than the week before and 12% above the four-week average. China bought 127,100 tons and Spain picked up 71,200 tons, while unknown destinations canceled on 103,000 tons. Sorghum exports are 162.9 million bushels, compared to 49.7 million a year ago.

Rice sales of 32,600 tons were 68% more than the prior week, but 58% less than the four-week average. Japan purchased 13,000 tons and unknown destinations bought 11,500 tons. Rice exports are 1,952,300 tons, compared to 2,468,200 last year.

Soybeans were pegged at 456,700 tons (16.8 million bushels), rising 19% on the week, but falling 2% from the four-week average. Indonesia picked up 204,300 tons and Mexico purchased 129,900 tons, while unknown destinations canceled on 178,700 tons. So far, this marketing year, soybean exports are 1.341 billion bushels, compared to 1.649 billion a year ago. Sales of 9,500 tons (300,000 bushels) for 2026/27 delivery were to Japan.

Soybean meal came out at 166,000 tons, a decline of 35% from the previous week and 51% from the four-week average. Ecuador bought 79,500 tons and Mexico picked up 30,600 tons, while unknown destinations canceled on 48,200 tons. Closing in on the second half of the marketing year, soybean meal exports are 12,173,100 tons, compared to 10,994,600 last year. Sales of 200 tons for 2026/27 delivery were to Canada.

Soybean oil was had a net reduction of 2,800 tons with sales of 100 to 900 tons more than offset by cancelations ranging from 500 to 2,400 tons. Cumulative soybean oil exports are 355,900 tons, compared to 832,400 a year ago.

Upland cotton was pegged at 253,200 bales, an increase of 68% from the week before, but a decrease of 8% from the four-week average. Vietnam purchased 116,300 bales and Bangladesh bought 28,200 bales. 2025/26 upland cotton exports are 9,157,400 bales, compared to 10,123,500 in 2024/25. Sales of 36,600 bales for 2026/27 delivery were primarily to Vietnam (15,100 bales) and Turkey (13,200 bales).

Net beef sales totaled 25,400 tons, a big jump from the prior week and 87% larger than the four-week average. The reported purchasers were South Korea (11,600 tons), Japan (5,900 tons), Hong Kong (3,200 tons), Taiwan (1,200 tons), and Mexico (1,000 tons). Physical shipments of 11,400 tons were down 23% on the week and 14% from the four-week average, mostly to South Korea (3,500 tons), Japan (3,300 tons), Mexico (1,100 tons), Taiwan (1,100 tons), and Hong Kong (1,000 tons).

Net pork sales totaled 23,700 tons, 34% under the previous week and 30% below the four-week average. The listed buyers were Mexico (5,200 tons), Japan (3,700 tons), China (2,900 tons), South Korea (2,800 tons), and Colombia (2,000 tons). Physical shipments of 38,900 tons were up 3% from both the week before and the four-week average, mainly to Mexico (17,000 tons), Japan (5,100 tons), South Korea (4,200 tons), China (3,700 tons), and Canada (2,000 tons).