News

Pork export sales decline after reductions, cancelations

Pork export sales dipped to a marketing year low during the week ending April 16^th. The USDA says several of key trading partners did buy U.S. pork last week but reduced their initial purchases and there were a handful of notable cancelations. Old crop corn, soybean meal, rice, and cotton also saw week-to-week declines. Export business is influenced by a number of factors, including the value of the dollar, domestic prices, seasonal supply changes, and geopolitics. The USDA’s next supply and demand report is out May 10^th.

The 2025/26 marketing year began June 1^st for wheat, August 1^st for cotton and rice, September 1^st for corn, sorghum, and soybeans, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 129,000 tons (4.7 million bushels), up 29% from the week ending April 9^th, but down 25% from the four-week average. Japan purchased 59,400 tons and Nigeria bought 47,400 tons, but unknown destinations canceled on 83,500 tons. Approaching the final month of the 2025/26 marketing year, wheat exports are 900.3 million bushels, compared to 781.5 million in 2024/25. Sales of 8,000 tons (300,000 bushels) for 2026/27 delivery were to South Korea (6,000 tons) and Honduras (2,000 tons).

Corn was reported at 1,316,700 tons (51.8 million bushels), 6% lower than the previous week, but 3% higher than the four-week average. South Korea picked up 345,700 tons and Japan purchased 324,200 tons. At this point in the marketing year, corn exports are 2.917 billion bushels, compared to 2.273 billion this time last year. Sales of 440,100 tons (17.3 million bushels) for 2026/27 delivery were to Mexico.

Sorghum sales of 192,600 tons (7.6 million bushels), a big improvement from both the week before and the four-week average. China bought 192,800 tons and Mexico picked up 2,000 tons. Sorghum exports are 183.2 million bushels, compared to 54.2 million a year ago.

Rice exports of 22,500 tons were a drop of 78% from the prior week and 57% from the four-week average. Japan purchased 18,200 tons and Mexico bought 12,100 tons. Rice exports are 2,299,900 tons, compared to 2,676,000 last year.

Soybeans were pegged at 364,600 tons (13.4 million bushels), rising 47% on the week, but falling 7% from the four-week average. Egypt picked up 93,600 tons and Egypt purchased 78,700 tons. So far, this marketing year, soybean exports are 1.415 billion bushels, compared to 1.721 million a year ago. Sales of 5,000 tons (200,000 bushels) for 2026/27 delivery were to Malaysia.

Soybean meal came out at 162,300 tons, a decrease of 36% from the previous week and 57% from the four-week average. Vietnam bought 52,000 tons and Mexico picked up 38,800 tons, but unknown destinations canceled on 113,400 tons. Just over the halfway point of the marketing year, soybean meal exports are 14,059,100 tons, compared to 12,028,100 last year. A net reduction of 1,500 tons for 2026/27 followed a cancelation by Canada.

Soybean oil was reported at 1,500 tons, 34% more than the week before and substantially larger than the four-week average. Mexico purchased 800 tons and Canada bought 700 tons. Cumulative soybean oil exports are 364,200 tons, compared to 967,800 a year ago.

Upland cotton was pegged at 119,900 bales, down 26% from the prior week and 55% from the four-week average. Vietnam picked up 62,100 bales and Turkey purchased 22,400 bales. 2025/26 upland cotton exports are 19.7 million bales, compared to 20.1 million in 2024/25. Sales of 57,100 bales for 2026/27 delivery were mainly to Indonesia and Vietnam (both at 17,600 bales).

Net beef sales totaled 15,100 tons, an increase of 26% on the week and 17% from the four-week average. The listed buyers were South Korea (5,100 tons), Japan (4,100 tons), Mexico (2,100 tons), Hong Kong (1,200 tons), and Taiwan (1,000 tons). Physical shipments of 12,500 tons were a decrease of 7% from the previous week and 9% from the four-week average, primarily to South Korea (4,200 tons), Japan (3,100 tons), Mexico (1,700 tons), Taiwan (1,000 tons), and Hong Kong (800 tons).

Net pork sales totaled 16,100 tons, 57% below the week before and 60% under the four-week average. The reported purchasers were Mexico (8,900 tons), Colombia (3,300 tons), South Korea (3,300 tons), Japan (1,600 tons), and Canada (1,400 tons), with net reductions by the Philippines (2,000 tons), Australia (1,900 tons), and New Zealand (600 tons). Physical shipments of 38,200 tons were 8% above the prior week and up 2% from the four-week average, mostly to Mexico (17,300 tons), Japan (4,900 tons), South Korea (3,800 tons), China (3,600 tons), and Colombia (1,900 tons).