News

Wheat export sales dive to marketing year low

Export demand for U.S. wheat continues to be slow. The USDA says wheat export sales for the week ending September 3^rd fell to a marketing year low with a handful of routine sales to regular buyers against a couple of cancelations. U.S. wheat remains relatively high priced compared to competing exporters. That’s at least part of what’s kept the U.S. from filling some of the vacuum left by the near total half of grain movement out of the Black Sea by both Russia and Ukraine. Beef and pork were both below average, while new crop corn and soybean sales were solid. The next set of weekly sales numbers from the USDA is out September 17^th.

The 2025/26 marketing year began October 1^st for soybean products, while 2026/27 got underway June 1^st for wheat, August 1^st for cotton and rice, and September 1^st for beans, corn, and sorghum. The marketing year for beef and pork is the calendar year.

Wheat came out at 194,200 tons (7.1 million bushels), down 38% from the week ending August 27^th and 43% from the four-week average. The Philippines purchased 88,400 tons and Ecuador bought 30,000 tons. Early in the second quarter of the 2026/27 marketing year, wheat exports are 322.4 million bushels, compared to 467.5 million in 2025/26. Sales of 2,500 tons (100,000 bushels) for 2027/28 delivery were to Mexico.

New crop corn was reported at 1,928,700 tons (75.9 million bushels). Mexico picked up 861,100 tons and Japan purchased 294,300 tons. Early in 2026/27, corn exports are 644.6 million bushels, compared to 889.8 million just after the start of 2025/26. The USDA says 15,597,200 tons were carried over from last marketing year. The 2025/26 total of 86,014,300 tons was up 25% from the total of 69,081,400 for 2024/25.

New crop sorghum sales were 11,700 tons (500,000 bushels). China bought 6,900 tons and unknown destinations picked up 2,800 tons. 2026/27 sorghum exports are 1.4 million bushels, compared to 10.1 million in 2025/26. The USDA says 32,700 tons were carried over from the just ended marketing year. The 2025/26 total of 5,085,500 tons were quite a bit larger than the total of 1,784,700 tons for 2024/25.

Rice sales were 51,300 tons. Japan purchased 10,000 tons and Haiti bought 7,000 tons, while unknown destinations canceled on 6,000 tons. Rice exports are 731,900 tons, compared to 673,800 this time last year.

New crop soybean sales were pegged at 2,637,300 tons (96.9 million bushels). China picked up 1,222,000 tons and unknown destinations bought 245,600 tons. So far, this marketing year, soybean exports are 695.5 million bushels, compared to 343.7 million a year ago. The USDA says 18,748,800 tons were carried over from 2025/26. The 2025/26 total of 41,006,500 tons were 18% below the total of 50,105,900 tons for 2024/25.

Soybean meal came out at 42,600 tons, 45% higher than the week before, but 43% lower than the four-week average. Japan picked up 24,100 tons and Colombia purchased 14,400 tons, while unknown destinations led at handful of cancelations at 23,000 tons. Near the end of the 2025/26 marketing year, soybean meal exports are 18,044,400 tons, compared to 15,673,800 late in 2024/25. Sales of 284,500 tons for 2026/27 delivery were mainly to unknown destinations (50,000 tons) and Mexico (41,200 tons).

Soybean oil was reported at 100 tons, a significant drop from both the prior week and the four-week average, all to Canada. Cumulative soybean oil exports are 375,900 tons, compared to 1,906,500 last year.

Upland cotton was pegged at 73,900 bales. Pakistan bought 19,400 bales and Vietnam picked up 17,500 bales. 2026/27 upland cotton exports are 4,432,800 bales, compared to 3,786,700 in 2025/26. Sales of 2,500 bales for 2027/28 delivery were to Mexico.

Net beef sales totaled 8,600 tons, a decrease of 34% on the week and 25% from the four-week average. The reported purchasers were Japan (3,200 tons), China (1,600 tons), Mexico (900 tons), South Korea (800 tons), and Hong Kong (700 tons). Physical shipments of 11,500 tons were 4% under both the previous week and the four-week average, primarily to South Korea (3,600 tons), Japan (2,200 tons), China (1,500 tons), Mexico (1,200 tons), and Taiwan (900 tons). Sales of 100 tons for 2027 delivery were to Japan.

Net pork sales totaled 27,400 tons, falling 22% from the week before and 20% from the four-week average. The listed buyers were Mexico (16,600 tons), Japan (3,200 tons), China (1,600 tons), Colombia (1,200 tons), and Honduras (1,000 tons). Physical shipments of 30,200 tons were up 1% from the prior week and 2% from the four-week average, mostly to Mexico (14,500 tons), Japan (3,200 tons), South Korea (3,100 tons), China (2,500 tons), and Canada (2,300 tons). Sales of 1,400 tons for 2027 delivery were to Australia.