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Mexico continues to drive U.S. corn export sales

Corn export sales were above average during the week ending October 1^st. The USDA says the big buyers of corn were key trading partners Mexico and Colombia. Relatively high corn prices have limited global demand over the past month, but Mexico and Colombia remain consistent, representing two of the largest markets for U.S. corn. Wheat also topped its four-week average, led by the Philippines and South Korea. Export business is influenced by several factors, including domestic prices, the value of the dollar against other currencies, and geopolitics.

Physical shipments of corn and soybeans were more than what’s needed to meet projections for the current marketing year. The 2026/27 marketing year began June 1^st for wheat, August 1^st for cotton and rice, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products.

Wheat came out at 451,600 tons (16.6 million bushels), up 56% from the week ending September 23^rd and 68% from the four-week average. The Philippines purchased 112,000 tons and South Korea bought 100,000 tons. In the second quarter of the 2026/27 marketing year, wheat exports are 371.5 million bushels, compared to 545.4 million in 2025/26.

Corn was reported at 769,500 tons (30.3 million bushels), 44% higher than the previous week and 28% above the four-week average. Mexico picked up 508,800 tons and Colombia purchased 196,900 tons, but unknown destinations canceled on 267,800 tons. Early in the marketing year, corn exports are 769.4 million bushels, compared to 1.158 billion this time last year. Sales of 22,400 tons (900,000 bushels) for 2027/28 delivery were to Mexico.

Sorghum sales were 2,500 tons (100,000 bushels). Japan bought 2,900 tons and Mexico picked up 1,600 tons, but unknown destinations canceled on 2,800 tons. Sorghum exports are 1.9 million bushels, compared to 25.5 million a year ago.

Rice hit a marketing year low at 15,800 tons. Mexico purchased 8,400 tons and Japan bought 5,000 tons. Rice exports are 989,000 tons, compared to 812,100 last year.

Soybeans were pegged at 549,400 tons (20.2 million bushels), down 47% from the week before and 34% from the four-week average. China picked up 382,900 tons and Mexico purchased 139,800 tons, but unknown destinations canceled on 385,200 tons. So far, this marketing year, soybean exports are 837.2 million bushels, compared to 465.3 million a year ago.

2026/27 soybean meal came out at 1,047,600 tons. Mexico bought 168,400 tons and the Philippines picked up 129,900 tons. The USDA says 861,900 tons were carried over from 2025/26. New crop soybean meal export sales are 5,104,800 tons, compared to 4,793,100 last year. 2025/26 sales totaled 17,220,800 tons, up 14% from the 2024/25 total of 15,051,800 tons.

2026/27 soybean oil was reported at 9,300 tons. Canada purchased 8,000 tons and Mexico bought 400 tons. The USDA says 8,100 tons were carried over from 2025/26. New crop soybean meal exports sales are 22,700 tons, compared to 110,800 a year ago. 2025/26 sales totaled 367,700 tons, down 22% from the 2024/25 total of 1,085,500 tons.

Upland cotton was pegged at 165,100 bales, 19% less than the prior week, but 14% more than the four-week average. Vietnam picked up 61,800 bales and Pakistan purchased 45,900 bales. 2026/27 upland cotton exports are 5,102,200 tons, compared to 4,413,300 in 2025/26. Sales of 56,100 bales for 2027/28 delivery were mainly to China (44,100 bales) and Honduras (10,400 bales).

Net beef sales totaled 13,000 tons, a decrease of 11% on the week, but an increase of 11% from the four-week average. The listed buyers were South Korea (4,600 tons), Japan (2,400 tons), Mexico (2,100 tons), Canada (1,200 tons), and Taiwan (600 tons). Physical shipments of 11,900 tons were down 6% from the previous week, but up 3% from the four-week average, primarily to South Korea (3,700 tons), Japan (2,700 tons), Mexico (1,600 tons), Taiwan (1,100 tons), and Hong Kong (600 tons).

Net pork sales totaled 26,900 tons, falling 24% from the week before and 16% from the four-week average. The reported purchasers were Mexico (19,100 tons), South Korea (3,400 tons), Japan (2,300 tons), China (1,200 tons), and Colombia (1,100 tons), with a net cancelation by Canada (2,200 tons). Physical shipments of 32,800 tons were 6% below the prior week, but 5% above the four-week average, mostly to Mexico (16,500 tons), Japan (4,200 tons), China (2,300 tons), South Korea (2,200 tons), and Colombia (1,900 tons). Sales of 400 tons for 2027 delivery were to Japan.