News

New crop corn, soybean export sales top 40 million bushels

New crop corn and soybean export sales were solid during the week ending July 23^rd. The USDA says new crop corn showed a week-to-week improvement led by unknown destinations and Mexico, and while new crop soybeans were down on the week, sales were still strong with China and unknown topping the list. Beef and pork export sales were up from the previous week, while old crop cotton and soybean meal fell to marketing year lows. Export business is driven by several factors, including the value of the dollar, domestic prices, and seasonal changes in supply. The USDA’s next round of supply and demand numbers is out August 12^th.

Physical shipments of corn and soybeans were more than what’s needed to meet 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 began June 1^st for wheat. The marketing year for beef and pork is the calendar year.

Wheat came out at 285,200 tons (10.5 million bushels), down 2% from the week ending July 16^th and steady with the four-week average. Indonesia purchased 70,000 tons and the Philippines bought 60,000 tons, while unknown destinations canceled on 62,000 tons. Almost two months into the 2026/27 marketing year, wheat exports are 254.3 million bushels, compared to 350.7 million in 2025/26.

Corn was reported at 362,900 tons (14.3 million bushels), 9% higher than the previous week, but 25% lower than the four-week average. Colombia picked up 173,900 tons and Mexico purchased 129,800 tons, but unknown destinations canceled on 349,900 tons. With just over a month left in the 2025/26 marketing year, corn exports are 3.424 billion bushels, compared to 2.774 billion in 2024/25. Sales of 1,062,400 tons (41.8 million bushels) for 2026/27 delivery were mainly to unknown destinations (425,500 tons) and Mexico (376,300 tons).

Sorghum sales of 7,600 tons (300,000 bushels) were up 31% from the week before and 11% from the four-week average. China bought 4,100 tons and Mexico picked up 3,300 tons. Sorghum exports are 199.3 million bushels, compared to 68.2 million this time last year.

Rice sales of 9,500 tons were 31% more than the prior week, but 45% less than the four-week average. Mexico purchased 6,700 tons and Jordan bought 1,700 tons. Rice exports are 2,669,800 tons, compared to 2,998,300 a year ago. Sales of 1,500 tons for 2026/27 delivery were primarily to Canada (1,000 tons) and Mexico (200 tons).

Soybeans were pegged at 302,300 tons (11.1 million bushels), a solid rise on the week and from the four-week average. Egypt picked up 62,700 tons and Japan purchased 58,900 tons, but unknown destinations canceled on 74,500 tons. So far, this marketing year, soybean exports are 1.532 billion bushels, compared to 1.875 billion last year. Sales of 1,333,200 tons (49 million bushels) were mostly to China (519,000 tons) and unknown destinations (372,000 tons).

Soybean meal came out at 63,300 tons, a decrease of 66% from the previous week and 67% from the four-week average. The Philippines bought 56,900 tons and Taiwan picked up 30,700 tons, while unknown destinations canceled on 45,600 tons. For the marketing year to date, soybean meal exports are 17,604,200 tons, compared to 15,356,000 a year ago. Sales of 51,400 tons for 2026/27 delivery were mainly to Canada (26,000 tons) and Mexico (15,900 tons).

Soybean oil had a net reduction of 1,100 tons with sales of 100 tons each to Mexico and Saudi Arabia more than offset by a cancelation from Canada on 1,300 tons. Cumulative soybean oil exports are 375,000 tons, compared to 1,081,400 last year.

Upland cotton was pegged at 29,700 bales, 42% below the week before and 41% under the four-week average. Vietnam purchased 14,200 bales and Pakistan bought 5,300 bales. Nearing the end of the 2025/26 marketing year, upland cotton exports are 12,032,000 bales, compared to 11,767,600 late in 2024/25. Sales of 352,400 bales for 2026/27 delivery were primarily to Vietnam (245,500 bales) and India (42,200 bales).

Net beef sales totaled 15,100 tons, an increase of 61% from the prior week and 39% from the four-week average. The listed purchasers were South Korea (4,700 tons), Japan (3,400 tons), Mexico (2,100 tons), Canada (1,300 tons), and Taiwan (1,300 tons). Physical shipments of 12,400 tons were down 1% on the week and 5% from the four-week average, mostly to South Korea (4,100 tons), Japan (3,300 tons), Mexico (1,300 tons), Taiwan (1,300 tons), and Canada (800 tons).

Net pork sales totaled 35,300 tons, 23% larger than the previous week and 34% above the four-week average. The reported buyers were Mexico (15,400 tons), China (9,700 tons), Japan (3,200 tons), Colombia (2,200 tons), and Canada (1,600 tons). Physical shipments of 32,300 tons were up 10% from the week before and 11% from the four-week average, mainly to Mexico (15,900 tons), Japan (4,000 tons), China (2,500 tons), Colombia (2,200 tons), and South Korea (2,100 tons).