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Pork export sales soar, as corn, soybeans back off from recent highs

Global buyers showed strong demand for U.S. pork last week. The USDA says Mexico bought more than half of the weekly total for pork export sales during the week ending January 22^nd, followed by China. Mexico also led the way on physical shipments of pork. Beef and soybean product sales were up on the week, while corn, sorghum, soybeans, and cotton backed off the previous week’s marketing year highs. Export business is influenced by several factors, including the relative value of the dollar, seasonal trends, and geopolitics. The USDA’s updated supply and demand numbers are out February 10^th.

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

Wheat came out at 558,200 tons (20.5 million bushels), down 10% from the week ending January 15^th, but up solidly from the four-week average. Japan purchased 141,300 tons and Mexico bought 96,800 tons. Closing in on the fourth quarter of the 2025/26 marketing year, wheat exports are 788.1 million bushels, compared to 665.6 million in 2024/25. Sales of 21,400 tons (800,000 bushels) for 2026/27 delivery were to unknown destinations (18,000 tons) and Mexico (3,400 tons).

Corn was reported at 1,648,900 tons (64.9 million bushels), 59% lower than the previous week, but 5% higher than the four-week average. Japan picked up 365,100 tons and Mexico purchased 350,800 tons, while unknown destinations canceled on 152,500 tons. For the marketing year to date, corn exports are 2.271 billion bushels, compared to 1.704 billion a year ago.

Sorghum sales of 231,200 tons (9.1 million bushels) were a decline of 56% from the week before and 17% from the four-week average. China bought 129,500 tons and Spain picked up 108,400 tons. Sorghum exports are 131.3 million bushels, compared to 44 million this time last year.

Rice sales of 59,600 tons were 5% less than the prior week, but 48% more than the four-week average. Haiti purchased 20,600 tons and Mexico bought 18,600 tons. Rice exports are 1,597,100 tons, compared to 2,062,600 a year ago.

Soybeans were pegged at 819,000 tons (30.1 million bushels), a drop of 67% on the week and 50% from the four-week average. China picked up 233,500 tons and Egypt purchased 171,000 tons. So far, this marketing year, soybean exports are 1.244 billion bushels, compared to 1.564 billion last year.

Soybean meal came out at 464,300 tons, rising 13% from the previous week and 82% from the four-week average. The Philippines bought 251,000 tons and Colombia picked up 64,300 tons. At this point in the marketing year, soybean meal exports are 10,270,200 tons, compared to 9,212,600 a year ago. Sales of 100 tons for 2026/27 delivery were to Canada.

Soybean oil was reported at 22,100 tons, an improvement from the week before and 58% above the four-week average. Guatemala purchased 18,000 tons and Colombia bought 3,900 tons. Cumulative soybean oil exports are 335,500 tons, compared to 671,900 last year.

Upland cotton was pegged at 203,700 bales, a decrease of 51% from the prior week and 17% from the four-week average. Pakistan picked up 52,000 bales and Vietnam purchased 45,600 bales. 2025/26 upland cotton exports are 7,553,500 bales, compared to 8,697,300 in 2024/25. Sales of 15,000 bales for 2026/27 delivery were mainly to Nicaragua (6,600 bales) and El Salvador (5,800 bales).

Net beef sales totaled 16,900 tons. The reported buyers were South Korea (7,600 tons), Japan (4,900 tons), Hong Kong (1,800 tons), Mexico (900 tons), and Taiwan (700 tons). Physical shipments of 12,600 tons were primarily to South Korea (3,800 tons), Japan (3,600 tons), Taiwan (1,500 tons), Mexico (1,300 tons), and Hong Kong (800 tons).

Net pork sales totaled 56,000 tons. The listed purchasers were Mexico (28,300 tons), China (15,900 tons), Japan (3,800 tons), Canada (2,700 tons), and South Korea (1,700 tons). Physical shipments of 35,900 tons were mostly to Mexico (17,400 tons), Japan (4,100 tons), South Korea (3,800 tons), China (2,600 tons), and Canada (1,600 tons).