News

Mostly mixed week for export sales, corn up

The USDA’s reporting a mixed week for export sales. Old and new crop corn during the week ending June 4^th both saw week-to-week improvements led by Japan, while old and new crop soybeans dipped, still showing a lack of demand from China. Beef was up on the week with South Korea buying more than a third of the total, but pork was down, with most of the key customers cutting back on their initial purchases. Export demand is influenced by several factors, including the value of the dollar, domestic prices, and geopolitics.

Physical shipments of corn 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 666,300 tons (24.5 million bushels). Mexico purchased 143,100 tons and Taiwan bought 118,500 tons. Just a few days into the 2026/27 marketing year, wheat exports are 168.7 million bushels, compared to 217.1 million just after the outset of 2025/26, including 10,971,669 carried over from 2025/26. The 2025/26 sales total of 860,096,530 bushels was up 11% from the 2024/25 total of 775,563,973 bushels.

Corn was reported at 1,000,400 tons (39.4 million bushels), up 13% from the week ending May 28^th, but down 15% from the four-week average. Japan picked up 373,000 tons and Mexico purchased 356,200 tons, but unknown destinations canceled on 443,300 tons. In the final quarter of the 2025/26 marketing year, corn exports are 3.258 billion bushels, compared to 2.596 billion in 2024/25. Sales of 926,900 tons (36.5 million bushels) for 2026/27 delivery were mainly to Japan (241,000 tons) and Colombia (237,500 tons).

Sorghum sales were 113,000 tons (4.5 million bushels), 80% higher than the previous week and substantially larger than the four-week average. Unknown destinations bought 109,000 tons and China picked up 4,700 tons, while Mexico canceled on 700 tons.

Rice sales of 39,000 tons were a solid improvement from the week before and 84% above the four-week average. Haiti purchased 22,300 tons and Saudi Arabia bought 9,100 tons. Rice exports are 2,467,600 tons, compared to 2,994,300 a year ago. Sales of 6,000 tons for 2026/27 delivery were to unknown destinations.

Soybeans were pegged at 211,300 tons (7.8 million bushels), 24% lower than the prior week and 18% below the four-week average. Egypt picked up 67,600 tons and Japan purchased 56,400 tons. So far, this marketing year, soybean exports are 1.476 billion bushels, compared to 1.785 billion this time last year. Sales of 141,500 tons (5.2 million bushels) for 2026/27 delivery were primarily to unknown destinations (120,000 tons) and Malaysia (10,000 tons).

Soybean meal came out at 395,700 tons, rising quite a bit on the week and 23% from the four-week average. The Philippines bought 200,500 tons and Vietnam picked up 89,600 tons. Closing in on the final quarter of the marketing year, soybean meal exports are 16,344,200 tons, compared to 14,003,300 a year ago. Sales of 30,400 tons for 2026/27 delivery were to Vietnam (30,000 tons) and Canada (400 tons).

Soybean oil was reported at 800 tons. Mexico purchased 700 tons and Canada bought 100 tons. Cumulative soybean oil exports are 373,300 tons, compared to 976,200 last year.

Upland cotton was pegged at 207,000 bales, an increase of 12% from the previous week and 60% from the four-week average. Vietnam picked up 83,300 bales and Pakistan purchased 57,300 bales. 2025/26 upland cotton exports are 11,540,200 bales, compared to 11,525,300 in 2024/25. Sales of 298,700 bales for 2026/27 delivery were mostly to Vietnam (180,000 bales) and Nicaragua (39,700 bales).

Net beef sales totaled 19,000 tons, a large jump from both the week before and the four-week average. The reported buyers were South Korea (7,000 tons), Japan (4,200 tons), Mexico (2,400 tons), Canada (1,400 tons), and Taiwan (1,300 tons). Physical shipments of 15,200 tons were up 48% from the prior week and 22% from the four-week average, mainly to South Korea (3,900 tons), Japan (3,200 tons), Mexico (1,600 tons), Taiwan (1,200 tons), and Canada (1,100 tons).

Net pork sales totaled 23,500 tons, falling 40% on the week and 26% from the four-week average. The listed purchasers were Japan (9,300 tons), Mexico (6,200 tons), Colombia (2,400 tons), South Korea (1,800 tons), and China (1,100 tons). Physical shipments of 34,200 tons were 13% higher than the previous week and 3% more than the four-week average, primarily to Mexico (16,800 tons), Japan (4,400 tons), China (3,300 tons), South Korea (2,300 tons), and Colombia (1,900 tons).