News

Big week for old crop corn export sales, others also rise

The USDA’s reporting a generally solid week for U.S. export sales. Old crop corn during the week ending May 14^th was considerably larger than average thanks to the key customers of Japan and South Korea, and new crop sales were good. Old crop soybeans rebounded after consecutive weeks of marketing year lows, with unknown destinations and Egypt leading the way, and unknown also bought a notable amount of new crop beans. Beef, pork, wheat, soybean meal, sorghum, cotton, and rice also saw week-to-week improvements. Export demand is influenced by several factors, including the value of the dollar, geopolitics, and seasonal supply changes. The USDA’s next round of supply and demand estimates is out June 11^th.

Physical shipments of soybeans were more than what’s needed to meet 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 beans, corn, and sorghum, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 166,300 tons (6.1 million bushels), up 25% from the week ending May 7^th and 28% from the four-week average. Japan purchased 98,300 tons and Panama bought 60,000 tons, while Indonesia canceled on 70,000 tons. Approaching the end of the 2025/26 marketing year, wheat exports are 920.8 million bushels. Sales of 130,500 tons (4.8 million bushels) for 2026/27 delivery were mainly to unknown destinations (51,500 tons) and Mexico (38,800 tons).

Corn was reported at 2,125,300 tons (83.7 million bushels), a big rise from the previous week and 71% higher than the four-week average. Japan picked up 779,800 tons and South Korea purchased 463,800 tons, while unknown destinations canceled on 356,500 tons. At this point in the marketing year, corn exports are 3.145 billion bushels, compared to 2.491 billion a year ago. Sales of 281,400 tons (11.1 million bushels) for 2026/27 delivery were primarily to Mexico (255,100 tons) and unknown destinations (22,000 tons).

Sorghum sales were 14,500 tons (600,000 bushels). China bought 130,100 tons and Japan picked up 10,000 tons, while unknown destinations canceled on 125,000 tons. Sorghum exports are 184.3 million bushels, compared to 58.9 million this time last year.

Rice sales of 53,100 tons were quite a bit larger than both the week before and the four-week average. Mexico purchased 31,100 tons and Haiti bought 13,400 tons. Rice exports are 2,404,800 tons, compared to 2,825,800 a year ago. Sales of 11,000 tons for 2026/27 delivery were to unknown destinations.

Soybeans were pegged at 351,400 tons (12.9 million bushels), substantially more than the prior week and 62% above the four-week average. Unknown destinations picked up 171,900 tons and Egypt purchased 59,800 tons. So far, this marketing year, soybean exports are 1.447 billion bushels, compared to 1.771 billion last year. Sales of 172,700 tons (6.3 million bushels) for 2026/27 delivery were to unknown destinations (132,000 tons) and Mexico (40,700 tons).

Soybean meal came out at 475,700 tons, an increase of 38% on the week and 71% from the four-week average. Italy bought 155,000 tons and the Philippines picked up 100,000 tons. For the marketing year to date, soybean meal exports are 15,486,100 tons, compared to 13,109,400 a year ago. Sales of 16,400 tons for 2026/27 delivery were to Mexico.

Soybean oil was reported at 1,000 tons. Mexico purchased 700 tons and Saudi Arabia bought 200 tons. Cumulative soybean oil exports are 369,100 tons, compared to 1,017,900 last year.

Upland cotton was pegged at 131,800 bales, a solid improvement from the previous week and 16% greater than the four-week average. Pakistan picked up 65,300 bales and Vietnam purchased 26,100 bales. 2025/26 upland cotton exports are 10,994,300 bales, compared to 11,155,500 in 2024/25. Sales of 216,000 bales for 2026/27 delivery were mostly to Pakistan (206,100 bales) and Indonesia (4,500 bales).

Net beef sales totaled 8,100 tons, up 7% from the week before, but down 31% from the four-week average. The listed buyers were Mexico (2,100 tons), Japan (1,800 tons), Canada (900 tons), Hong Kong (900 tons), and Taiwan (800 tons), with a cancelation by Indonesia (100 tons). Physical shipments of 12,300 tons were 2% lower than the prior week and 5% under the four-week average, mainly to South Korea (4,400 tons), Japan (2,800 tons), Mexico (1,200 tons), Taiwan (1,100 tons), and Hong Kong (900 tons).

Net pork sales totaled 34,600 tons, an increase of 65% from the prior week and 21% from the four-week average. The reported purchasers were Mexico (14,500 tons), Japan (5,600 tons), Colombia (4,000 tons), Canada (2,700 tons), and China (1,400 tons). Physical shipments of 34,300 tons were a decrease of 3% on the week and 8% from the four-week average, primarily to Mexico (15,500 tons), Japan (5,000 tons), China (3,300 tons), South Korea (3,300 tons), and Colombia (2,300 tons).