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Beef, soybean product sales up on week

It was a mixed week for U.S. export sales. The USDA says old crop sorghum, rice, soybean products, and beef during the week ending May 22^nd all showed week-to-week improvements, including the first reported sale of U.S. beef to China since late March. China canceled on previously purchased U.S. soybeans, cotton, and pork due to seasonal factors and the ongoing tariff battle with the U.S. Combined old and new crop corn, soybean, and wheat export sales were within pre-report estimates. The USDA’s next round of supply and demand estimates is out June 12^th.

Physical shipments of corn were more than what’s needed to meet projections for the current marketing year. The 2024/25 marketing year began June 1^st for wheat, August 1^st for cotton and rice, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

OId crop wheat had a net reduction of 128,800 tons (-4.7 million bushels), with sales of 6,000 to 50,800 tons more than offset by cancelations of 3,000 to 103,400 tons. Approaching the end of the 2024/25 marketing year, wheat exports are 784 million bushels, compared to 693.5 million in 2023/24. Sales of 711,400 tons (26.1 million bushels) for 2025/26 delivery were mainly to unknown destinations (213,000 tons) and Mexico (140,000 tons).

Corn was reported at 916,700 tons (36.1 million bushels), down 23% from the week ending May 15^th and 34% from the four-week average. Japan purchased 214,400 tons and Mexico bought 201,500 tons. Nearing the final quarter of the current marketing year, corn exports are 2.527 billion bushels, compared to 1.972 billion this time last year. Sales of 31,000 tons (1.2 million bushels) for 2025/26 delivery were primarily to Mexico (16,500 tons) and Trinidad and Tobago (8,000 tons).

Sorghum sales of 33,800 tons (1.3 million bushels) were up 3% from the previous week and 13% from the four-week average, all to Mexico. Sorghum exports are 60.3 million bushels, compared to 205.6 million a year ago.

Rice sales of 83,800 tons were a solid improvement from both the week before and the four-week average. Iraq picked up 44,000 tons and Nicaragua purchased 27,000 tons. Rice exports are 2,936,200 tons, compared to 3,195,100 last year.

Soybeans were pegged at 146,000 tons (5.4 million bushels), a drop of 53% from the prior week and 58% from the four-week average. Mexico bought 52,200 tons and Indonesia picked up 27,400 tons. So far, this marketing year, soybean exports are 1.781 billion bushels, compared to 1.588 billion a year ago. Sales of 32,800 tons (1.2 million bushels) for 2025/26 delivery were to Mexico (30,300 tons) and Indonesia (2,500 tons).

Soybean meal came out at 424,600 tons, rising 18% on the week and 57% from the four-week average. The Philippines purchased 158,400 tons and Japan bought 97,000 tons. At this point in the marketing year, soybean meal exports are 13,534,000 tons, compared to 12,064,700 last year. Sales of 178,500 tons for 2025/26 delivery were mostly to Honduras (36,200 tons) and unknown destinations (35,000 tons).

Soybean oil was reported at 19,500 tons, 43% higher than the previous week and 56% above the four-week average. Venezuela picked up 14,300 tons and Jamaica purchased 3,500 tons, while Colombia canceled on 2,000 tons. Cumulative soybean oil exports are 1,037,400 tons, compared to 141,300 a year ago.

Upland cotton was pegged at 118,700 bales, 16% less than the week before but 8% more than the four-week average. Vietnam bought 65,600 bales and Bangladesh picked up 17,300 bales. 2024/25 upland cotton exports are 11,415,600 bales, compared to 12,227,300 in 2023/24. Sales of 13,800 bales for 2025/26 delivery were mainly to Pakistan (5,700 bales) and Thailand (3,500 bales).

Net beef sales totaled 14,700 tons, an increase of 20% from the prior week and 24% from the four-week average. The listed purchasers were Japan (4,200 tons), South Korea (3,100 tons), Mexico (2,200 tons), China (1,100 tons), and Taiwan (1,100 tons). Shipments of 12,700 tons were a decrease of 15% on the week and 15% from the four-week average, primarily to Japan (4,000 tons), South Korea (4,000 tons), Mexico (1,300 tons), Taiwan (1,200 tons), and Canada (700 tons).

Net pork sales totaled 30,500 tons, 19% below the previous week, but 1% above the four-week average. The reported buyers were Mexico (14,100 tons), South Korea (6,500 tons), Japan (3,400 tons), Costa Rica (1,100 tons), and Guatemala (1,000 tons), with cancelations by China (800 tons) and Australia (100 tons). Shipments of 28,900 tons were 1% higher than the week before and 9% more than the four-week average, mostly to Mexico (13,700 tons), South Korea (3,700 tons), Japan (3,600 tons), Colombia (1,800 tons), and Canada (1,400 tons).