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Soybean export sales fall with lack of demand from China

Soybean export sales dropped to a marketing year low last week. The USDA says Egypt was the big buyer during the week ending April 9^th, with no new sales to China, which remains largely absent from the U.S. soybean market. There could be a boost for U.S. soybean demand in the near future, as President Trump and President Xi are expected to meet face-to-face in China to talk trade in mid-May. Beef and wheat export sales also saw week-to-week declines, possibly related to price, while corn and pork were up on the week. The USDA’s next round of supply and demand estimates is out May 10^th.

Physical shipments of soybeans were more than what’s needed weekly to meet the USDA’s recently reduced projection. The 2025/26 marketing year started 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 100,300 tons (3.685 million bushel), down 39% from the week ending April 2^nd and 48% from the four-week average. Nigeria purchased 52,400 tons and Vietnam bought 34,800 tons, with notable cancelations of 54,300 and 37,000 tons, by unknown destinations and the Philippines, respectively. Closing in on the final month of the 2025/26 marketing year, wheat exports are 895.6 million bushels. Sales of 131,000 tons (4.813 million bushels) for 2026/27 delivery were mainly to South Korea (90,000 tons) and Mexico (22,000 tons).

Corn was reported at 1,400,600 tons (55.139 million bushels), up 3% from the previous week and 14% from the four-week average. Japan picked up 339,400 tons and South Korea purchased 333,100 tons. In the back half of the marketing year, corn exports are 2.866 billion bushels. Sales of 56,500 tons (2.224 million bushels) for 2026/27 delivery were to Mexico.

Sorghum sales of 82,900 tons (3.264 million bushels), were 27% less than the week before, but 37% more than the four-week average. China bought 214,500 tons and Mexico picked up 400 tons, but unknown destinations canceled on 12,000 tons. Sorghum exports are 175.7 million bushels.

Rice sales of 102,800 tons were a big improvement from the prior week and 85% larger than the four-week average. Senegal purchased 35,000 tons and Colombia bought 26,800 tons. Rice exports are 2,277,400 tons. Sales of 900 tons for 2026/27 delivery were to Taiwan.

Soybeans were pegged at 247,900 tons (9.109 million bushels), a decrease of 16% on the week and 39% from the four-week average. Egypt picked up 58,100 tons and Costa Rica purchased 50,800 tons. So far, this marketing year, soybean exports are 1.402 billion bushels.

Soybean meal came out at 254,200 tons, a drop of 30% from the previous week and 31% from the four-week average. Italy bought 100,000 tons and the Philippines picked up 58,100 tons, while unknown destinations canceled on 46,800 tons. Just past the halfway point of the marketing year, soybean meal exports are 13,896,700 tons. Sales of 1,500 tons for 2026/27 delivery were to Canada.

Soybean oil was reported at 1,100 tons. Mexico purchased 1,800 tons, while Canada canceled on 700 tons. Cumulative soybean oil exports are 362,600 tons.

Upland cotton was pegged at 161,100 bales, falling 50% from the week before and 41% from the four-week average. Vietnam bought 62,100 bales and Turkey picked up 49,000 bales. 2025/26 upland cotton exports are 19.7 million bales. Sales of 26,900 bales for 2026/27 delivery were to Vietnam (20,700 bales) and Portugal (6,200 bales).

Net beef sales totaled 12,100 tons, 31% below the prior week, but 12% above the four-week average. The listed purchasers were South Korea (4,900 tons), Japan (2,400 tons), Mexico (1,400 tons), Taiwan (1,300 tons), and Canada (400 tons). Physical shipments of 13,400 tons were up 1% on the week but down 2% from the four-week average, primarily to South Korea (4,200 tons), Japan (3,000 tons), Hong Kong (1,500 tons), Mexico (1,400 tons), and Taiwan (1,100 tons).

Net pork sales totaled 37,300 tons, 19% higher than the previous week, but 3% lower than the four-week average. The reported buyers were Mexico (11,300 tons), Japan (8,200 tons), China (3,800 tons), Canada (2,300 tons), and Australia (2,000 tons). Physical shipments of 35,300 tons were 1% greater than the week before, but 6% lesser than the four-week average, mostly to Mexico (15,600 tons), Japan (5,400 tons), South Korea (4,100 tons), China (2,900 tons), and Colombia (1,400 tons).