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China steps in for pork, skips soybeans again

China bought U.S. pork last week. The USDA says Beijing purchased nearly half of the total for pork, but overall U.S. sales during the week ending September 4^th were below average following reductions by several other key customers. That move to buy U.S. pork could be connected to China raising tariffs on pork imports from the European Union as part of a larger trade dispute. China also bought U.S. cotton, while continuing to avoid U.S. soybeans and aggressively sourcing supplies from Brazil. New crop soybean and corn export sales were multi-week lows.

The 2024/25 marketing year began October 1^st for soybean products, while 2025/26 got underway June 1^st for wheat, August 1^st for cotton and rice, and September 1^st for beans, corn, and sorghum. The marketing year for beef and pork is the calendar year.

Wheat came out at 305,400 tons (11.2 million bushels), down 2% from the week ending August 28^th and 43% from the four-week average. Japan purchased 78,600 tons and Indonesia bought 70,000 tons. Early in the second quarter of 2025/26, wheat exports are 467.5 million bushels, compared to 391.4 million in 2024/25.

New crop corn was reported at 539,900 tons (21.3 million bushels). Mexico picked up 256,500 tons and Japan purchased 143,700 tons. The USDA says 1,169,700 tons were carried over from 2024/25, putting 2025/26 corn exports at 889.8 million bushels, compared to 526 million this time last year. Accumulated 2024/25 U.S. corn exports were 69,081,400 tons, 27% larger than the 2023/24 total of 54,277,300 tons.

New crop sorghum sales were 54,000 tons (2.1 million bushels). Unknown destinations bought 53,000 tons and Japan picked up 1,000 tons. The USDA says 400 tons were carried over from 2024/25, taking 2025/26 sorghum exports to 10.1 million bushels, compared to 24 million a year ago. Accumulated 2024/25 U.S. sorghum exports were 1,784,700 tons, a drop of 70% from the 2023/24 total of 5,914,700 tons.

Rice sales were 56,900 tons. Haiti purchased 13,500 tons and Saudi Arabia bought 11,200 tons. Rice exports are 716.1 million bushels, compared to 792.5 million last year.

New crop soybeans were pegged at 541,100 tons (19.9 million bushels). Unknown destinations picked up 431,700 tons and Taiwan purchased 62,000 tons. The USDA says 767,000 tons were carried over from 2024/25, taking 2025/26 soybean exports to 343.7 million bushels, compared to 523.4 million a year ago. Accumulated 2024/25 U.S. soybean exports were 50,105,900 tons, 13% more than the 2023/24 total of 44,510,100 tons, even with China absent for the last several months of the marketing year.

Soybean meal came out at 33,400 tons. Colombia bought 17,500 tons and Sri Lanka picked up 6,200 tons, while there were a handful of cancelations, led by Mexico at 7,100 tons. In the final month of the 2024/25 marketing year, soybean meal exports are 15,673,800 tons, compared to 13,888,600 in 2023/24. Sales of 324,100 tons for 2025/26 delivery were mainly to the Philippines (233,000 tons) and Colombia (37,100 tons).

Soybean oil had a net reduction of 6,400 tons following several cancelations. Cumulative soybean oil exports are 1,096,500 tons, compared to 233,600 last year.

Upland cotton was pegged at 129,600 bales, a decline of 47% from the previous week and 33% from the four-week average. Vietnam purchased 61,500 bales and China bought 17,600 bales. 2025/26 upland cotton exports are 3,786,700 bales, compared to 4,764,400 in 2024/25.

Net beef sales totaled 12,100 tons, falling 27% from the week before, but rising 8% from the four-week average. The reported buyers were Japan (3,400 tons), South Korea (2,400 tons), Hong Kong (1,900 tons), Mexico (900 tons), and Taiwan (900 tons). Physical shipments of 8,700 tons were 25% below the prior week and 24% lower than the four-week average, primarily to Japan (2,800 tons), South Korea (2,500 tons), Taiwan (1,000 tons), Mexico (800 tons), and Hong Kong (500 tons).

Net pork sales totaled 17,300 tons, dropping 27% on the week and 35% from the four-week average. The listed purchasers were China (8,200 tons), Mexico (4,700 tons), Honduras (1,500 tons), Canada (800 tons), and Japan (300 tons). Physical shipments of 23,400 tons were a decrease of 12% from the previous week and 13% from the four-week average, mostly to Mexico (11,100 tons), Japan (2,900 tons), China (2,100 tons), South Korea (2,000 tons), and Colombia (1,700 tons).