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Soybean, corn, wheat export sales notch multi-week highs post-holidays

U.S. export sales mostly showed improvements over the past week as business got back into full swing after the holidays. Corn, soybeans, and wheat all hit multi-week highs, with soybean sales during the week ending January 8^th also above average as China continues its attempts to meet pledged demand. Sorghum was up on the week with China buying about half of the total, and upland cotton hit a marketing year high. Beef also saw a week-to-week rise in sales, while pork dipped as some key buyers trimmed their purchases. The USDA’s next round of supply and demand numbers is out February 10^th.

Physical shipments of corn and wheat remain ahead of what’s needed to meet USDA projections for the current marketing year. The 2025/26 marketing year began 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 156,300 tons (5.7 million bushels), up 32% from the week ending January 1^st, but down 21% from the four-week average. Unknown destinations purchased 72,000 tons and the Philippines bought 61,500 tons. For the 2025/26 marketing year to date, wheat exports are 744.9 million bushels, compared to 644.1 million in 2024/25.

Corn was reported at 1,139,500 tons (44.9 million bushels), quite a bit higher than the previous week, but 10% lower than the four-week average. Mexico picked up 265,800 tons and Japan purchased 210,800 tons. Approaching the halfway point of the second quarter of the marketing year, corn exports are 2.049 billion bushels, compared to 1.585 billion this time last year. Sales of 1,300 tons (100,000 bushels) for 2026/27 delivery were to Mexico.

Sorghum sales of 290,700 tons (11.4 million bushels) were an increase of 26% from the week before and 35% from the four-week average. China bought 141,700 tons and unknown destinations picked up 101,000 tons. Sorghum exports are 101.5 million bushels, compared to 44 million a year ago.

Rice sales of 58,100 tons were more than the prior week and 66% above the four-week average. Mexico purchased 33,400 tons and unknown destinations bought 11,500 tons. Rice exports are 1,474,500 tons, compared to 1,911,700 last year.

Soybeans were pegged at 2,061,900 tons (75.8 million bushels), rising sharply on the week and 54% greater than the four-week average. China picked up 1,224,100 tons and Egypt purchased 273,200 tons. So far, this marketing year, soybean exports are 1.126 billion bushels, compared to 1.495 billion a year ago. Sales of 10,000 tons (400,000 bushels) for 2026/27 delivery were to Japan.

Soybean meal came out at 340,600 tons, considerably more than the previous week and up 15% from the four-week average. The Philippines bought 105,100 tons and Vietnam picked up 54,600 tons, while unknown destinations canceled on 73,000 tons. At this point in the marketing year, soybean meal exports are 9,393,300 tons, compared to 8,593,500 last year. A net reduction of 100 tons for 2026/27 delivery followed a cancelation by Canada.

Soybean oil was reported at 14,100 tons, falling 43% from the week before and 37% from the four-week average. Colombia purchased 10,000 tons and Mexico bought 2,200 tons. Cumulative soybean oil exports are 302,900 tons, compared to 656,600 a year ago.

Upland cotton was pegged at 339,700 bales, a big jump from the prior week and 89% higher than the four-week average. Vietnam picked up 127,400 bales and China purchased 57,200 bales. 2025/26 upland cotton exports are 6,937,300 bales, compared to 8,068,300 in 2024/25. Sales of 10,100 bales for 2026/27 delivery were mainly to Costa Rica (7,200 bales) and El Salvador (2,600 bales).

Net beef sales totaled 11,200 tons. The reported buyers were South Korea (3,800 tons), Japan (2,000 tons), Mexico (1,700 tons), Taiwan (1,000 tons), and Hong Kong (900 tons). Physical shipments of 11,700 tons were primarily to Japan (3,400 tons), South Korea (3,100 tons), Taiwan (1,600 tons), Mexico (1,100 tons), and Hong Kong (1,000 tons).

Net pork sales totaled 26,800 tons. The listed purchasers were Mexico (9,200 tons), Japan (5,200 tons), South Korea (4,100 tons), Canada (2,300 tons), and the Dominican Republic (1,500 tons), with a cancelation by Panama (100 tons). Physical shipments of 40,700 tons were mostly to Mexico (21,000 tons), Japan (4,200 tons), China (3,400 tons), South Korea (3,300 tons), and Canada (2,300 tons). A net reduction of 700 tons for 2027 delivery followed cancelations by Chile (100 tons), the Dominican Republic (100 tons), Honduras (100 tons), Panama (100 tons), and South Korea (100 tons).