News

Pork, wheat export sales up on week

The USDA says pork export sales saw a solid improvement during the week ending September 5^th. That week-to-week jump in pork export sales was led by better demand from several key customers including Mexico, Japan, and Colombia. Wheat, rice, and new crop sorghum were also up on the week, while beef, new crop corn and soybeans, old crop soybean products, and cotton were down. The USDA’s next round of weekly export sales numbers is out on the 19^th.

The 2024/25 marketing year kicked off June 1^st for wheat, August 1^st for cotton and rice, and September 1^st for corn, sorghum, and soybeans, while 2023/24 began October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 474,900 tons (17.4 million bushels), up 40% from the week ending September 29^th and 11% from the four-week average. Taiwan purchased 105,400 tons and the Philippines bought 98,900 tons. Early in the second quarter of the 2024/25 marketing year, wheat exports are 395.6 million bushels, compared to 305.5 million in 2023/24. A net reduction of 200 tons for 2025/26 delivery followed a cancelation by South Korea.

New crop corn sales were 666,500 tons (26.2 million bushels). Mexico picked up 180,300 tons and unknown destinations purchased 167,900 tons. The USDA says 1,453,800 tons of outstanding 2023/24 sales were carried over into 2024/25. 2024/25 corn exports are 526 million bushels, compared to 439.3 million early in 2023/24. 2023/24 sales totaled 54,277,300 tons, up 38% from 2022/23.

New crop sorghum sales were 71,900 tons (2.8 million bushels), all to China. The USDA says 8,600 tons of outstanding 2023/24 sales were carried over into 2024/25. 2024/25 sorghum exports are 24 million bushels, compared to 78.6 million just after the start of 2023/24. 2023/24 sales totaled 5,914,700 tons, quite a bit larger than 2022/23.

Rice sales of 61,900 tons were 52% higher than the week before and 62% above the four-week average. Japan bought 28,000 tons and Haiti picked up 21,600 tons. Rice exports are 792,500 tons, compared to 612,900 a year ago.

New crop soybean sales were 1,474,000 tons (54.2 million bushels). China purchased 962,600 tons and unknown destinations bought 127,500 tons. The USDA says 953,800 tons of outstanding 2023/24 sales were carried over into 2024/25. 2024/25 soybean sales are 523.4 million bushels, compared to 611.6 million in 2023/24. 2023/24 sales totaled 44,510,100 tons, down 15% from 2022/23.

Old crop soybean meal hit a marketing year low with a net reduction of 3,000 tons. Sales of 1,200 to 11,500 tons were more than offset by cancelations of 300 to 10,000 tons. With less than a month left in the marketing year, soybean meal exports are 13,888,600 tons, compared to 12,893,400 this time last year. Sales of 279,000 tons for 2024/25 delivery were mainly to unknown destinations (75,000 tons) and Mexico (63,200 tons).

Old crop soybean oil was a marketing year low with a net reduction of 500 tons. The sale of 800 tons to Mexico was more than offset by the cancelation on 1,300 tons by Canada. Cumulative soybean oil exports are 233,600 tons, compared to 126,600 a year ago. Sales of 1,700 tons for 2024/25 delivery were to Canada (1,600 tons) and Taiwan (100 tons).

Upland cotton was pegged at 116,100 bales, a decline of 44% from the prior week and 15% from the four-week average. Vietnam picked up 65,700 bales and Pakistan purchased 27,500 bales, while China canceled on 26,300 bales. 2024/25 upland cotton exports are 4,764,400 bales, compared to 5,379,300 in 2023/24.

Net beef sales totaled 11,400 tons, a decrease of 31% on the week and 41% from the four-week average. The reported buyers were South Korea (3,200 tons), Mexico (1,900 tons), Japan (1,500 tons), Canada (1,100 tons), and Taiwan (1,000 tons). Shipments of 11,800 tons were 21% lower than the previous week and 16% below the four-week average, primarily to South Korea (3,100 tons), Japan (2,600 tons), China (1,800 tons), Mexico (1,200 tons), and Taiwan (600 tons).

Net pork sales totaled 29,700 tons, an increase of 43% from the week before and 15% from the four-week average. The listed purchasers were Mexico (14,200 tons), Japan (4,300 tons), Colombia (2,400 tons), China (2,000 tons), and Canada (1,400 tons). Shipments of 25,700 tons were 8% less than the prior week and down 10% from the four-week average, mostly to Mexico (10,700 tons), Japan (3,800 tons), China (3,200 tons), Colombia (1,700 tons), and South Korea (1,600 tons). Sales of 100 tons for 2025 delivery were to the Dominican Republic.