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Late reported sales lead to record week for beef exports

Beef export sales during the week June 25^th were the largest for any week on record. The USDA says big purchases late in the reporting period by several buyers led by Chile and Italy pushed beef sales to more than 120,000 tons, shattering the previous record set in February 2019. The USDA’s Foreign Ag Service says it expects the next export sales update for beef to look closer to normal. Pork export sales were up sharply on the week, with Mexico topping the list. Old crop corn and soybean sales saw week-to-week declines, and while new crop corn was solid, new crop soybeans were less than the previous week with no new demand from China. The USDA’s next round of supply and demand numbers is out July 10^th.

Physical shipments of corn and soybeans were more than what’s needed to meet USDA projections for the current marketing year. The 2025/26 marketing year got underway August 1^st for cotton and rice, 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 300,100 tons (11 million bushels). Mexico purchased 79,700 tons and unknown destinations bought 68,200 tons. Less than a month into the 2026/27 marketing year, wheat exports are 213 million bushels, compared to 263.7 million early in 2025/26.

Corn was reported at 732,100 tons (28.8 million bushels), down 2% from the week ending June 18^th and 23% from the four-week average. Mexico picked up 261,000 tons and Colombia purchased 201,100 tons, but unknown destinations canceled on 631,000 tons. For the 2025/26 marketing year to date, corn exports are 3.362 billion bushels, compared to 2.681 billion in 2024/25. Sales of 767,800 tons (30.2 million bushels) for 2026/27 delivery were mainly to Mexico (272,700 tons) and unknown destinations (189,500 tons).

Sorghum sales of 25,400 tons (1 million bushels) were 30% lower than the previous week and 64% below the four-week average. China bought 92,900 tons and Japan picked up 1,600 tons, while unknown destinations canceled on 69,000 tons. Sorghum exports are 199 million bushels, compared to 65.7 million this time last year.

Rice sales of 20,500 tons were a dip of 7% from the week before and 54% from the four-week average. Haiti purchased 15,100 tons and Guatemala bought 12,200 tons, while unknown destinations canceled on 12,000 tons. Rice exports are 2,611,000 tons, compared to 3,056,000 a year ago. Sales of 25,900 tons for 2026/27 delivery were to Colombia (20,000 tons) and unknown destinations (6,000 tons), with a cancelation by the Leeward and Windward Islands (100 tons).

Soybeans were a marketing year low at 41,800 tons (1.5 million bushels), dropping 91% from the prior week and 88% from the four-week average. China picked up 65,400 tons and Japan purchased 27,600 tons, but unknown destinations canceled on 88,500 tons. So far, this marketing year, soybean exports are 1.51 billion bushels, compared to 1.833 billion last year. Sales of 182,500 tons (6.7 million bushels) for 2026/27 delivery were to Mexico (182,100 tons) and Vietnam (400 tons).

Soybean meal came out at 239,100 tons, an increase of 56% on the week, but a decrease of 5% from the four-week average. Colombia bought 85,000 tons and the Philippines picked up 57,300 tons, while unknown destinations canceled on 62,000 tons. Closing in on the final quarter of the marketing year, soybean meal exports are 17,020,300 tons, compared to 14,563,700 a year ago. Sales of 174,500 tons for 2026/27 delivery were primarily to Mexico (71,600 tons) and the Philippines (48,000 tons).

Soybean oil had a net reduction of 1,500 tons. Honduras purchased 100 tons, while Canada and Mexico canceled on 1,200 and 400 tons, respectively. Cumulative soybean oil exports are 374,800 tons, compared to 1,067,600 last year.

Upland cotton was reported at 49,000 bales, falling 42% from the previous week and 70% from the four-week average. Vietnam bought 23,200 bales and India picked up 7,400 bales. 2025/26 upland cotton exports are 11,850,200 bales, compared to 11,696,100 in 2024/25. Sales of 44,100 bales for 2026/27 delivery were mostly to Honduras (11,300 bales) and Guatemala (9,300 bales).

Net beef sales totaled 126,100 tons. The reported buyers were Chile (38,400 tons), Italy (32,300 tons), Japan (20,600 tons), Hong Kong (11,800 tons), and South Korea (4,700 ton). Physical shipments of 129,000 tons were mainly to Chile (38,500 tons), Italy (32,400 tons), Japan (22,700 tons), Hong Kong (12,200 tons), and South Korea (4,700 tons).

The USDA adds next sales and exports totaling 111,164 tons were for Chile (38,452 tons), Italy (32,246 tons), Japan (18,583 tons), Hong Kong (11,226 tons), Switzerland (3,734 tons), Taiwan (2,342 tons), the United Kingdom (1,669 tons), the United Arab Emirates (1,438 tons), Singapore (1,126 tons), and Lebanon (348 tons).

Net pork sales of 37,600 tons were 44% larger than both the week before and the four-week average. The listed purchasers were Mexico (18,700 tons), South Korea (5,600 tons), China (5,300 tons), Australia (1,500 tons), and Japan (1,500 tons). Physical shipments of 31,800 tons were 1% lower than the prior week, but 1% higher than the four-week average, primarily to Mexico (15,400 tons), Japan (4,600 tons), China (3,200 tons), South Korea (2,300 tons), and Colombia (1,600 tons).