News

Corn, soybean export sales up on week, below average

The USDA’s reporting a generally mixed week for U.S. export sales numbers. Corn, soybean, and soybean oil export sales during November 14^th were up from the previous week, but lower than average, while soybean meal, sorghum, rice, and pork were down from the week before, but larger than average. Beef, wheat, and cotton did see week-to-week improvements and topped their respective averages, with cotton notching a marketing year high. Export demand is driven by several factors, including the relative value of the dollar, seasonal changes in supply, and geopolitical relationships. The USDA’s next round of supply and demand estimates is out December 10^th.

Wheat came out at 549,600 tons (14.958 million bushels), up 45% from the week ending November 7^th and 29% from the four-week average. South Korea purchased 200,100 tons and Mexico bought 91,000 tons.

Corn was reported at 1,494,600 tons (37.963 million bushels), 14% higher than the previous week, but 40% lower than the four-week average. Mexico picked up 787,400 tons and unknown destinations purchased 146,300 tons.

Sorghum sales of 121,100 tons (3.076 million bushels) were 14% below the week before, but quite a bit above the four-week average, all to China.

Rice sales of 68,900 tons were 38% under the prior week, but 6% over the four-week average. Mexico bought 15,600 tons and unknown destinations picked up 14,000 tons.

Soybeans were pegged at 1,860,600 tons (50.637 million bushels), an increase of 20% on the week, but a decrease of 7% from the four-week average. China purchased 1,197,000 tons and Mexico bought 169,000 tons.

Soybean meal came out at 274,900 tons, 9% less than the previous week, but 3% more than the four-week average. Mexico picked up 167,800 tons and the Philippines purchased 49,000 tons, while unknown destinations canceled on 60,000 tons. Sales of 700 tons for 2025/26 delivery were to Japan.

Soybean oil was reported at 21,900 tons, 33% larger than the week before, but 48% smaller than the four-week average. South Korea bought 12,000 tons and Venezuela picked up 5,000 tons.

Upland cotton was pegged at 318,500 bales, rising sharply from the prior week and 72% from the four-week average. Vietnam purchased 141,600 bales and Pakistan bought 55,300 bales. Sales of 16,000 bales for 2025/26 delivery were mainly to Turkey (9,700 bales) and El Salvador (5,300 bales).

Net beef sales totaled 14,300 tons, up 1% on the week and 8% from the four-week average. The reported purchasers were Japan (4,300 tons), South Korea (3,300 tons), China (2,100 tons), Mexico (1,800 tons), and Canada (1,000 tons), with a net cancelation by the United Arab Emirates (100 tons). Shipments of 16,300 tons were 3% higher than the previous week and 5% above the four-week average, primarily to South Korea (4,900 tons), Japan (3,600 tons), China (2,600 tons), Mexico (1,500 tons), and Taiwan (1,100 tons). Sales of 3,100 tons for 2025 delivery were to South (1,600 tons), Japan (1,000 tons), Taiwan (300 tons), El Salvador (100 tons), and Hong Kong (100 tons).

Net pork sales totaled 18,100 tons, a dip of 9% from the week before and unchanged from the four-week average. The listed buyers were Mexico (4,100 tons), South Korea (3,300 tons), Japan (2,000 tons), Colombia (1,900 tons), and Canada (1,500 tons). Shipments of 32,000 tons were 3% more than the prior week, but 2% less than the four-week average, mostly to Mexico (12,600 tons), Japan (3,800 tons), South Korea (3,300 tons), China (2,900 tons), and Colombia (2,800 tons). Sales of 2,500 tons for 2025 delivery were mainly to Australia (900 tons), South Korea (600 tons), Colombia (400 tons), Costa Rica (200 tons), and Japan (100 tons).