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China leads the way for old, crop soybean export sales

China continues to show strong interest in U.S. soybeans. The USDA says China was the leading buyer for both old and new crop U.S. beans during the week ending July 16^th. U.S. prices are competitive against Brazil and China is trying to meet pledged purchase levels agreed to last year during trade negotiations. New crop corn sales hit a multi-week high, with beef and pork also seeing week-to-week improvements. Export business is influenced by a number of factors including domestic prices, seasonal changes in supply and demand, and geopolitics. The USDA will update their supply and demand outlook August 12^th.

Physical shipments of corn were more than what’s needed to meet projections for the current marketing year. The 2025/26 marketing year began August 1^st for wheat, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products, while 2026/27 kicked off June 1^st for wheat. The marketing year for beef and pork is the calendar year.

Wheat came out at 290,000 tons (10.7 million bushels), up 23% from the week ending July 9^th, but down 14% from the four-week average. Mexico purchased 137,600 tons and Taiwan bought 98,200 tons. About a month and a half into the 2026/27 marketing year, wheat exports are 243.8 million bushels, compared to 328.9 million in 2025/26.

Corn was reported at 332,700 tons (13.1 million bushels), 6% higher than the previous week, but 44% lower than the four-week average. Mexico picked up 203,500 tons and Taiwan purchased 152,000 tons, but unknown destinations canceled on 401,300 tons. Approaching the final month of 2025/26, corn exports are 3.41 billion bushels, compared to 2.76 billion late in 2024/25. Sales of 701,500 tons (27.6 million bushels) for 2026/27 delivery were mainly to unknown destinations (168,000 tons) and Colombia (148,100 tons).

Sorghum sales were 5,700 tons (200,000 bushels). China bought 60,500 tons and Mexico picked up 4,200 tons, but unknown destinations canceled on 60,000 tons. Sorghum exports are 199 million bushels, compared to 68.2 million this time last year.

Rice sales of 7,300 tons were a drop of 60% from the week before and 66% from the four-week average. Guatemala purchased 10,300 tons and Haiti bought 7,500 tons, but unknown destinations canceled on 11,000 tons. Rice exports are 2,660,200 tons, compared to 3,103,100 a year ago. Sales of 85,700 tons for 2026/27 delivery were primarily to Iraq (80,000 tons) and Suth Korea (5,600 tons).

Soybeans were pegged at 56,400 tons (2.1 million bushels), falling 70% from both the prior week and the four-week average. China picked up 70,600 tons and the Netherlands purchased 58,700 tons, but unknown destinations canceled on 117,300 tons. So far, this marketing year, soybean exports are 1.521 billion bushels, compared to 1.864 billion last year. Sales of 1,537,200 tons (56.5 million bushels) for 2026/27 delivery were mostly to China (1,006,000 tons) and Mexico (329,700 tons).

Soybean meal came out at 185,000 tons, an increase of 5% on the week and 2% from the four-week average. South Korea bought 50,700 tons and the Philippines picked up 48,300 tons. At this point in the marketing year, soybean meal exports are 17,540,900 tons, compared to 15,310,500 a year ago. Sales of 406,100 tons for 2026/27 delivery were mainly to Guatemala (98,800 tons) and the Philippines (93,000 tons).

Soybean oil was reported at 600 tons. Mexico purchased 400 tons, while Bahrain and Canada both bought 100 tons. Cumulative soybean oil exports are 376,100 tons, compared to 1,078,900 last year.

Upland cotton was pegged at 51,300 bales, 49% more than the previous week, but 12% less than the four-week average. China picked up 15,500 bales and Vietnam purchased 12,300 bales. Nearing the end of the 2025/26 marketing year, upland cotton exports are 12,002,300 bales, compared to 11,800,300 late in 2024/25. Sales of 16,100 bales for 2026/27 delivery were primarily to Vietnam (7,100 bales) and India (4,700 bales).

Net beef sales totaled 9,400 tons, up 18% from the week before, but down 32% from the four-week average. The listed buyers were South Korea (2,600 tons), Mexico (1,700 tons), Canada (1,600 tons), Japan (1,000 tons), and Taiwan (700 tons). Physical shipments of 12,500 tons were 21% higher than the prior week, but 5% lower than the four-week average, mainly to South Korea (3,700 tons), Japan (3,200 tons), Mexico (1,300 tons), Taiwan (1,300 tons), and Hong Kong (800 tons).

Net pork sales totaled 28,800 tons, rising 33% on the week and 12% from the four-week average. The reported purchasers were Mexico (14,000 tons), Japan (2,600 tons), Canada (2,500 tons), Nicaragua (2,100 tons), and Colombia (1,400 tons). Physical shipments of 29,500 tons were 17% more than the previous week, but 1% less than the four-week average, primarily to Mexico (13,800 tons), Japan (3,800 tons), China (2,600 tons), South Korea (2,300 tons), and Colombia (2,000 tons).