News
Big week for new crop corn export sales
Global demand for new crop U.S. corn continues to be strong. The USDA says that during the week ending July 31st five buyers picked up 124.5 million bushels of new crop corn last week. Still a few weeks away from the new marketing year, corn sales have been boosted over the past several weeks by the U.S. price advantage over competitors like Argentina, Brazil, and Ukraine. Wheat, beef, and new crop soybean export sales were also up on the week. Pork sales were down, but China did buy U.S. pork for the first time in about a month. The USDA’s updated supply and demand numbers are out next Tuesday at Noon Eastern/11 Central.
Physical shipments of corn, soybeans, and wheat were more than what’s needed to meet USDA projections for the current marketing year. The 2024/25 marketing year started September 1st for corn, sorghum, and soybeans, and October 1st for soybean products, while 2025/26 kicked off June 1st for wheat and August 1st for cotton and rice. The marketing year for beef and pork is the calendar year.
Wheat came out at 797,800 tons (27.1 million bushels), up 25% from both the week ending July 24th and the four-week average. Nigeria purchased 185,900 tons and Bangladesh bought 165,000 tons, while unknown destinations canceled on 146,800 tons. A couple of months into the 2025/26 marketing year, wheat exports are 377.8 million bushels, compared to 312.5 million in 2024/25.
Corn was reported at 170,400 tons (6.7 million bushels), down 50% from the previous week and 71% from the four-week average. Mexico picked up 208,400 tons and Colombia purchased 148,900 tons, but unknown destinations canceled on 491,700 tons. Nearing the end of the 2024/25 marketing year, corn exports are 2.78 billion bushels, compared to 2.193 billion in 2023/24. Sales of 3,163,200 tons (124.5 million bushels) for 2025/26 delivery were mainly to unknown destinations (1,278,900 tons) and Mexico (408,000 tons).
There were no old crop sorghum sales. Sorghum exports are 68.2 million bushels, compared to 230.2 million this time last year. Sales of 34,000 tons (1.3 million bushels) for 2025/26 delivery were to Mexico.
Rice sales for 2025/26 delivery were 93,500 tons. Mexico bought 31,400 tons and Japan picked up 25,700 tons. The USDA says 18,400 tons were carried over from 2024/25, putting 2025/26 at 497,100 tons, compared to 578,100 early last marketing year. Accumulated exports of 2,886,500 tons for 2024/25 were 13% under the 2023/24 total.
Soybeans were pegged at 467,800 tons (17.2 million bushels), 71% higher than the week before and 63% above the four-week average. Taiwan purchased 150,400 tons and the Netherlands bought 119,700 tons, but unknown destinations canceled on 179,200 tons. So far, this marketing year, soybean exports are 1.892 billion bushels, compared to 1.68 billion a year ago. Sales of 545,000 tons (20 million bushels) for 2025/26 delivery were primarily to unknown destinations (254,300 tons) and Egypt (106,000 tons).
Soybean meal came out at 169,400 tons, quite a bit more than the prior week, but 15% less than the four-week average. Colombia picked up 78,200 tons and the Philippines purchased 51,200 tons. With about two months left in the marketing year, soybean meal exports are 15,525,400 tons, compared to 13,735,900 last year. Sales of 112,400 tons for 2025/26 delivery were mostly to Colombia (43,500 tons) and Mexico (30,800 tons).
Soybean oil was reported at 7,000 tons, a significant improvement both on the week and from the four-week average. Mexico bought 6,500 tons and Canada picked up 500 tons. Cumulative soybean oil exports are 1,088,400 tons, compared to 219,900 a year ago.
Upland cotton sales for 2025/26 delivery were 109,300 bales. Vietnam purchased 53,400 bales and Peru bought 20,300 bales. 2025/26 upland cotton exports are 2,885,400 bales, compared to 4,101,700 just after the outset of 2024/25. Accumulated 2024/25 upland cotton exports were 11,191,200 bales, up 1% from 2023/24.
Net beef sales totaled 15,900 tons, an increase of 88% from the previous week and 40% from the four-week average. The reported purchasers were Japan (6,100 tons), South Korea (4,000 tons), Mexico (1,800 tons), Taiwan (1,100 tons), and the Philippines (800 tons). Physical shipments of 14,000 tons were 15% above the week before and up 14% from the four-week average, mainly to Japan (4,100 tons), South Korea (3,600 tons), Mexico (1,700 tons), Canada (1,200 tons), and Taiwan (1,000 tons).
Net pork sales totaled 31,000 tons, down 22% from the week before, but up 27% from the four-week average. The listed purchasers were China (12,500 tons), Mexico (7,000 tons), South Korea (2,800 tons), Colombia (2,500 tons), and Japan (2,000 tons). Shipments of 28,200 tons were 5% above the prior week and 2% more than the four-week average, primarily to Mexico (12,500 tons), Japan (3,800 tons), China (2,800 tons), South Korea (2,700 tons), and Colombia (1,300 tons).
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