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Meat, corn export sales up on week

The USDA’s reporting a generally solid week for U.S. export sales. Corn, beef, pork, wheat, sorghum, cotton, rice, and new crop soybean oil sales for the week ending September 26^th all saw week-to-week improvements thanks better interest from some key customers. Export demand is driven by several factors, including domestic prices, the value of the dollar relative to other currencies, and seasonal supply changes. The USDA’s next round of supply and demand estimates is out October 11^th.

Shipments of corn and wheat were more than what’s needed to meet projections for the current marketing year. The 2024/25 marketing year got underway June 1^st for wheat, August 1^st for cotton and rice, and September 1^st for corn, sorghum, and soybeans, while 2023/24 kicked off October 1^st, 2023, for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 443,700 tons (16.3 million bushels), up sharply from the week ending September 19^th and 46% from the four-week average. Japan purchased 170,200 tons and Egypt bought 70,000 tons. At this point in the 2024/25 marketing year, wheat exports are 426.8 million bushels, compared to 346.8 million in 2023/24.

Corn was reported at 1,684,100 tons (66.3 million bushels). Mexico picked up 540,800 tons and Colombia purchased 339,100 tons. About a month into the marketing year, corn exports are 646.7 million bushels, compared to 566.3 million a year ago.

Sorghum sales were 48,000 tons (1.9 million bushels). Unknown destinations bought 60,000 tons and Eritrea picked up 33,000 tons, while China canceled on 55,000 tons. Sorghum exports are 26.1 million bushels, compared to 90.3 million this time last year. Sales of 1,000 tons for 2025/26 delivery were to Japan.

Rice sales of 35,800 tons were down 35% from the previous week and 40% from the four-week average. Mexico purchased 15,900 tons and Haiti bought 10,000 tons. Rice exports are 964,700 tons, compared to 759,900 a year ago.

Soybeans were pegged at 1,443,500 tons (53 million bushels). China picked up 725,700 tons and Bangladesh purchased 166,000 tons. So far, this marketing year, soybean exports are 696 million bushels, compared to 678 million last year. Sales of 1,000 tons for 2025/26 delivery were to Japan.

Old crop soybean meal had a net reduction of 40,700 tons. Sales of 1,100 to 7,100 tons were more than offset by cancelations of 3,300 to 30,900 tons. For the 2023/24 marketing year to date, soybean meal exports are 13,837,100 tons, compared to 12,912,600 tons in 2022/23. Sales of 228,600 tons for 2024/25 delivery were mainly to Guatemala (72,200 tons) and Panama (51,400 tons).

Old crop soybean oil was reported at 500 tons, a drop of 49% from the week before and 96% from the four-week average. Canada bought 1,000 tons, while Mexico canceled on 500 tons. Cumulative soybean oil exports are 281,700 tons, compared to 132,400 a year ago. Sales of 30,800 tons for 2024/25 delivery were primarily to South Korea (20,000 tons) and Colombia (9,800 tons).

Upland cotton was pegged at 95,800 bales, 9% more than the prior week, but 26% less than the four-week average. Vietnam picked up 29,100 bales and Pakistan purchased 25,400 bales. 2024/25 upland cotton exports are 5,054,800 bales, compared to 5,780,400 bales in 2023/24. Sales of 39,600 bales for 2025/26 delivery were to Malaysia.

Net beef sales totaled 22,500 tons, a strong increase on the week and 68% larger than the four-week average. The reported buyers were South Korea (7,900 tons), China (6,200 tons), Mexico (2,800 tons), Japan (2,600 tons), and Taiwan (1,000 tons). Shipments of 17,700 tons were 42% above the previous week and 28% higher than the four-week average, mostly to South Korea (4,100 tons), Japan (4,000 tons), China (2,900 tons), Mexico (1,800 tons), and Taiwan (1,400 tons).

Net pork sales totaled 43,400 tons, rising 55% from the week before and 61% from the four-week average. The listed purchasers were Mexico (24,000 tons), China (7,900 tons), Canada (2,900 tons), South Korea (2,000 tons), and Japan (1,500 tons), with a cancelation by Australia (300 tons). Shipments of 25,900 tons were 7% lower than the prior week and 8% below the four-week average, mainly to Mexico (10,900 tons), Japan (3,800 tons), China (2,600 tons), South Korea (1,800 tons), and Canada (1,600 tons).