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New crop soybean exports soar, new crop corn sales solid

Last week was a big week for new crop U.S. soybean export demand. The USDA says those soybean sales during the week ending August 20^th topped 90 million bushels, nearly all of that to either China or unknown destinations. Global demand for new crop beans has surged over the past several weeks thanks to more competitive pricing and China trying to meet its pledged U.S. purchase totals. New crop corn sales were also strong, mainly to unknown destinations and Mexico, and pork and wheat were above average. The USDA’s next round of supply and demand estimates is out September 11^th.

Physical shipments of wheat were more than what’s needed to meet projections for the current marketing year. The 2025/26 marketing year began 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 and August 1^st for cotton and rice.

Wheat came out at 402,500 tons (14.8 million bushels), up 2% from the week ending August 13^th and 31% from the four-week average. Mexico purchased 78,500 tons and Japan bought 71,900 tons. Late in the first quarter of 2026/27, wheat exports are 303.8 million bushels, compared to 444.8 million in 2025/26.

Old crop corn was a marketing year low at 31,200 tons (1.2 million bushels), falling 87% from the previous week and 89% from the four-week average. The Netherlands picked up 100,500 tons and Japan purchased 84,200 tons, but unknown destinations canceled on 277,500 tons. Approaching the end of 2025/26, corn exports are 3.455 billion bushels, compared to 2.775 billion late in 2024/25. Sales of 1,066,400 tons (42 million bushels) for 2026/27 delivery were mainly to unknown destinations (438,000 tons) and Mexico (208,800 tons).

Old crop sorghum sales of 15,000 tons (600,000 bushels) were 96% higher than the week before and considerably larger than the four-week average. Japan bought 9,000 tons and Mexico picked up 3,200 tons. Sorghum exports are 200.7 million bushels, compared to 70.7 million this time last year. Sales of 10,000 tons (400,000 bushels) for 2026/27 delivery were to Japan.

Rice sales were 20,000 tons. Haiti purchased 7,100 tons and Mexico bought 5,800 tons, while unknown destinations canceled on 6,000 tons. Rice exports are 623,200 tons, compared to 549,600 a year ago.

Old crop soybeans were pegged at 73,900 tons (2.7 million bushels), down 13% from the prior week and 40% from the four-week average. Egypt picked up 105,000 tons and Indonesia purchased 66,300 tons, but unknown destinations canceled on 169,500 tons. So far, this marketing year, soybean exports are 1.541 billion bushels, compared to 1.867 billion last year. Sales of 2,478,300 tons (91.1 million bushels) were primarily to China (1,101,000 tons) and unknown destinations (1,046,000 tons).

Soybean meal came out at 104,700 tons, an increase of 13% on the week and 28% from the four-week average. The Philippines bought 59,400 tons and the United Kingdom picked up 30,000 tons, but unknown destinations canceled on 96,900 tons. For the marketing year to date, soybean meal exports are 17,972,500 tons, compared to 15,644,700 a year ago. Sales of 322,800 tons for 2026/27 delivery were mostly to Japan (72,000 tons) and Panama (62,500 tons).

Soybean oil was reported at 400 tons. Mexico purchased 600 tons, while Kuwait and Saudi Arabia both bought 100 tons, but Canada canceled on 500 tons. Cumulative soybean oil exports are 374,500 tons, compared to 1,103,100 last year.

Upland cotton was pegged at 95,700 bales. Vietnam picked up 19,000 bales and Guatemala purchased 14,400 bales. 2026/27 upland cotton exports are 4,331,400 bales, compared to 3,412,100 in 2025/26. Sales of 39,600 bales for 2026/27 delivery were to Malaysia (30,800 bales) and Guatemala (8,800 bales).

Net beef sales totaled 9,200 tons, a decrease of 1% from the previous week and 38% from the four-week average. The reported buyers were Japan (2,200 tons), South Korea (2,100 tons), Taiwan (1,900 tons), Mexico (1,000 tons), and Canada (500 tons). Physical shipments of 11,800 tons were 7% lower than the week before and 3% less than the four-week average, mainly to South Korea (3,700 tons), Japan (2,700 tons), Mexico (1,500 tons), Taiwan (1,500 tons), and Hong Kong (700 tons).

Net pork sales totaled 38,700 tons, rising 42% from the prior week and 23% from the four-week average. The listed purchasers were Mexico (22,700 tons), Japan (2,600 tons), Colombia (2,200 tons), Australia (1,800 tons), and South Korea (1,500 tons). Physical shipments of 29,900 tons were up 8% on the week and 1% from the four-week average, primarily to Mexico (13,800 tons), Japan (4,400 tons), China (2,900 tons), Colombia (2,100 tons), and South Korea (1,800 tons).