News

New crop corn, soybean export sales solid

Old crop corn, cotton, and soybean export sales fell to marketing year lows during the week ending July 30^th. That is not uncommon as all three of those commodities prepare to close out their current respective marketing years, and new crop sales were solid. Beef and pork were both larger than average. Export demand is influenced by several factors, including seasonal changes in supply and the value of the dollar relative to other currencies. The USDA’s updated supply and demand projections are out August 12^th.

Physical shipments of corn and wheat were more than what’s needed to meet USDA projections for the current marketing years. The 2025/26 marketing year got underway September 1^st for beans, corn, and sorghum, and October 1^st for soybean products, while 2026/27 began June 1^st for wheat and August 1^st for cotton and rice. The marketing year for beef and pork is the calendar year.

Wheat came out at 296,400 tons (10.9 million bushels), up 4% from the week ending July 23^rd and 6% from the four-week average. The Philippines purchased 87,800 tons and Mexico bought 68,700 tons. Nearly a quarter into the 2026/27 marketing year, wheat exports are 265.2 million bushels, compared to 377.8 million in 2025/26.

Corn was reported at 116,700 tons (4.6 million bushels), down 68% from the previous week and 70% from the four-week average. South Korea picked up 86,100 tons and Colombia purchased 84,300 tons, but unknown destinations canceled on 256,400 tons. Approaching the end of the 2025/26 marketing year, corn exports are 3.429 billion bushels, compared to 2.78 billion late in 2024/25. Sales of 1,026,900 tons (40.4 million bushels) for 2026/27 delivery were mainly to unknown destinations (490,400 tons) and Mexico (151,500 tons).

Sorghum sales of 9,200 tons (400,000 bushels), 20% higher than the week before and considerably larger than the four-week average. China bought 60,000 tons and Eritrea picked up 33,000 tons, but unknown destinations canceled on 90,000 tons. Sorghum exports are 199.7 million bushels, compared to 68.2 million this time last year.

Rice had a net reduction of 54,300 tons. Sales of 100 to 2,900 tons were more than offset by cancelations of 5,000 to 14,600 tons. Rice exports are 2,615,400 tons, compared to 2,997,500 a year ago. Sales of 95,500 tons for 2026/27 delivery were primarily to Mexico (36,600 tons) and Japan (13,100 tons).

Soybeans were pegged at 32,200 tons (1.2 million bushels), a drop of 89% from the prior week and 79% from the four-week average. Indonesia purchased 60,000 tons and the Netherlands bought 58,100 tons, while but unknown destinations canceled on 178,000 tons. So far, this marketing year, soybean exports are 1.533 billion bushels, compared to 1.89 billion last year. Sales of 903,900 tons (33.2 million bushels) for 2026/27 delivery were mostly to unknown destinations (497,000 tons) and China (330,000 tons).

Soybean meal came out at 101,400 tons, up 60% on the week, but down 31% from the four-week average. Ecuador picked up 51,600 tons and Colombia purchased 35,200 tons, but unknown destinations canceled on 74,500 tons. At this point in the marketing year, soybean meal exports are 17,705,600 tons, compared to 15,525,400 a year ago. Sales of 146,700 tons for 2026/27 delivery were primarily to unknown destinations (81,000 tons) and Mexico (24,900 tons).

Soybean oil was reported at 3,900 tons. Canada bought 2,900 tons and Mexico picked up 800 tons. Cumulative soybean oil exports are 378,900 tons, compared to 1,088,400 last year.

Upland cotton had a net reduction of 55,900 bales. Sales ranging from 100 to 4,100 bales were more than offset by cancelations of 4,000 to 33,100 bales. 2025/26 upland cotton exports are 11,976,100 bales, compared to 11,806,700 in 2024/25. Sales of 242,100 bales for 2026/27 delivery were mostly to Vietnam (132,400 bales) and Turkey (41,600 bales).

Net beef sales totaled 19,800 tons, an increase of 31% from the previous week and 71% from the four-week average. The reported buyers were South Korea (9,300 tons), Japan (6,600 tons), Taiwan (900 tons), Mexico (800 tons), and Hong Kong (500 tons). Physical shipments of 12,500 tons were 1% above the week before and unchanged from the four-week average, mainly to South Korea (3,800 tons), Japan (2,800 tons), Mexico (1,600 tons), Taiwan (1,500 tons), and Canada (1,100 tons).

Net pork sales totaled 27,300 tons, 23% less than the prior week, but 6% more than the four-week average. The listed purchasers were Mexico (16,500 tons), Japan (3,500 tons), Colombia (2,200 tons), South Korea (1,800 tons), and Honduras (1,400 tons). Physical shipments of 28,100 tons were a decline of 13% on the week and 4% from the four-week average, primarily to Mexico (13,100 tons), Japan (4,200 tons), South Korea (2,700 tons), China (1,700 tons), and Colombia (1,600 tons).