USDA Weekly Export Sales Report Week Ended Oct. 10, 2024 | |
Corn | |
Actual Sales (in MT) | 2024-25: 2,225,700 |
Expectations (in MT) | 2024-25: 1,200,000-2,200,000 |
Weekly Sales Details | Net sales of 2,225,700 MT for 2024/2025 were up 82 percent from the previous week and up noticeably from the prior 4-week average. Increases were primarily for unknown destinations (902,900 MT), Japan (452,700 MT, including 7,000 MT switched from unknown destinations), Colombia (244,500 MT, including 16,000 MT switched from Panama and decreases of 1,900 MT), Mexico (231,800 MT, including decreases of 1,800 MT), and Honduras (103,400 MT, including decreases of 15,100 MT). |
Weekly Export Details | Exports of 501,800 MT were down 53 percent from the previous week and 49 percent from the prior 4-week average. The destinations were primarily to Mexico (230,300 MT), Colombia (119,900 MT), Saudi Arabia (62,700 MT), Honduras (50,400 MT), and El Salvador (17,000 MT). |
Comments and Performance Indicators | Export commitments are 22.9% ahead of a year-ago, compared to 15.4% ahead last week. USDA projects exports in 2024-25 at 2.325 billion bu., 1.4% above the previous marketing year. |
Wheat | |
Actual Sales (in MT) | 2024-25: 504,100 |
Expectations (in MT) | 2024-25: 250,000-550,000 |
Weekly Sales Details | Net sales of 504,100 metric tons (MT) for 2024/2025 were up 16 percent from the previous week and 57 percent from the prior 4-week average. Increases primarily for Mexico (135,000 MT, including decreases of 4,500 MT), the Philippines (70,000 MT), Italy (66,500 MT), Japan (58,200 MT), and Egypt (35,000 MT), were offset by reductions for the Leeward and Windward Islands (5,000 MT), Panama (1,900 MT), Spain (500 MT), and Belize (300 MT). |
Weekly Export Details | Exports of 393,100 MT were up 9 percent from the previous week, but down 30 percent from the prior 4-week average. The destinations were primarily to Mexico (80,700 MT), Japan (60,300 MT), Taiwan (56,900 MT), South Korea (44,000 MT), and Chile (33,000 MT). |
Comments and Performance Indicators | Export commitments are 17.1% ahead of year-ago, compared to 19.4% ahead last week. USDA projects exports in 2024-25 exports are projected at 825 million bu., up 16.7% from last year. |
Soybeans | |
Actual Sales (in MT) | 2024-25: 1,702,700 |
Expectations (in MT) | 2024-25: 1,000,000-2,200,000 |
Weekly Sales Details | Net sales of 1,702,700 MT for 2024/2025 were up 35 percent from the previous week and 16 percent from the prior 4-week average. Increases primarily for China (999,700 MT, including 344,000 MT switched from unknown destinations and decreases of 9,900 MT), Egypt (144,600 MT, including 30,000 MT switched from unknown destinations), the Netherlands (137,000 MT, including 125,100 MT switched from unknown destinations and decreases of 100 MT), Mexico (86,500 MT, including decreases of 400 MT), and Spain (85,000 MT), were offset by reductions for unknown destinations (85,600 MT), Venezuela (3,500 MT), and Algeria (1,600 MT). |
Weekly Export Details | Exports of 1,852,700 MT were up 9 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to China (1,219,900 MT), the Netherlands (137,000 MT), Egypt (88,600 MT), Mexico (88,600 MT), and Switzerland (70,900 MT). Export for Own Account: For 2024/2025, the current exports for own account outstanding balance of 3,900 MT are for Taiwan (1,500 MT), Canada (1,400 MT), Bangladesh (500 MT), and Malaysia (500 MT). |
Comments and Performance Indicators | Export commitments are running 5.0% ahead of a year-ago, compared to 3.7% behind last week. USDA projects exports in 2024-25 at 1.850 billion bu., up 8.8% from the previous marketing year. |
Soymeal | |
Actual Sales (in MT) | 2024-25: 251,400 |
Expectations | 2024-25: 150,000-350,000 |
Weekly Sales Details | Net sales of 251,400 MT for 2024/2025 primarily for Mexico (109,800 MT, including decreases of 200 MT), Vietnam (50,800 MT, including 45,000 MT switched from unknown destinations), Venezuela (30,500 MT, including 20,000 MT switched from Panama, 9,100 MT switched from Colombia, and decreases of 100 MT), Japan (25,600 MT, including 25,000 MT switched from the Philippines), and Morocco (25,000 MT), were offset by reductions for unknown destinations (30,000 MT), the Philippines (22,400 MT), Panama (15,000 MT), Colombia (2,700 MT), and Kuwait (100 MT). Total net sales of 800 MT for 2025/2026 were for Canada. |
Weekly Export Details | Exports of 246,800 MT were primarily to the Philippines (48,400 MT), Colombia (45,900 MT), Venezuela (36,500 MT), Mexico (33,200 MT), and Canada (17,800 MT). |
Comments and Performance Indicators | Export commitments are 3.1% ahead of a year-ago, compared to 7.4% ahead last week. USDA projects exports in 2023-24 will increase 10.0% from the previous marketing year in 2023-24. |
Soyoil | |
Actual Sales (in MT) | 2024-25: 400 |
Expectations (in MT) | 2024-25: 0-20,000 |
Weekly Sales Details | Net sales of 400 MT for 2024/2025 were reported for Canada (300 MT) and Mexico (100 MT). |
Weekly Export Details | Exports of 2,000 MT were primarily to Canada (1,200 MT). |
Comments and Performance Indicators | Export commitments are well ahead of year-ago. USDA projects exports will jump 72.0% in 2023-24. |
Cotton | |
Actual Upland Sales (in RB) | 2024-25: 159,800 |
Weekly Sales Details | Net sales of Upland totaling 159,800 RB for 2024/2025 were up 78 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for Vietnam (47,700 RB, including 8,800 RB switched from China, 100 RB switched from Japan, and decreases of 400 RB), Pakistan (45,600 RB), Turkey (17,300 RB, including 5,400 RB switched from Pakistan), Nicaragua (12,600 RB), and Peru (9,800 RB), were offset by reductions for Taiwan (2,300 RB), South Korea (1,300 RB), and Japan (200 RB). |
Weekly Export Details | Exports of 57,800 RB were down 39 percent from the previous week and 44 percent from the prior 4-week average. The destinations were primarily to Pakistan (16,200 RB), Mexico (10,600 RB), Bangladesh (5,900 RB), Vietnam (5,100 RB), and Taiwan (3,100 RB). Net sales of Pima totaling 2,600 RB for 2024/2025--a marketing-year low--were down 72 percent from the previous week and 76 percent from the prior 4-week average. Increases primarily for India (2,000 RB), Pakistan (600 RB, including 400 RB switched from the United Arab Emirates), Italy (400 RB switched from Germany), Peru (300 RB), and Vietnam (200 RB switched from Hong Kong), were offset by reductions for Germany (400 RB), the United Arab Emirates (400 RB), and Hong Kong (200 RB). Exports of 12,300 RB--a marketing-year high--were up 90 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to India (4,200 RB), China (4,000 RB), Pakistan (1,100 RB), Peru (1,000 RB), and Vietnam (500 RB). |
Comments and Performance Indicators | Upland cotton export commitments are running 10.0% behind a year ago, compared to 11.7% behind last week. USDA forecasts total cotton exports will fall 2.0% from a year ago to 11.50 million bales in 2024-25. |
Beef | |
Actual Sales (in MT) | 2024: 14,100 |
Weekly Sales Details | Net sales of 14,100 MT for 2024 were up 3 percent from the previous week, but down 9 percent from the prior 4-week average. Increases were primarily for Japan (4,600 MT, including decreases of 200 MT), South Korea (2,600 MT, including decreases of 400 MT), China (2,300 MT, including decreases of 100 MT), Mexico (1,100 MT, including decreases of 100 MT), and Taiwan (700 MT, including decreases of 100 MT). Net sales of 900 MT for 2025 were reported for Japan (600 MT), Hong Kong (100 MT), the Philippines (100 MT), and Guatemala (100 MT). |
Weekly Export Details | Exports of 15,300 MT were down 5 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to Japan (3,800 MT), South Korea (3,800 MT), China (1,900 MT), Mexico (1,400 MT), and Taiwan (1,000 MT). |
Comments and Performance Indicators | USDA projects 2024 exports will fall 3.2% from a year ago. |
Pork | |
Actual Sales (in MT) | 2024: 38,100 |
Weekly Sales Details | Net sales of 38,100 MT for 2024 were down 25 percent from the previous week, but up 1 percent from the prior 4-week average. Increases were primarily for Mexico (8,900 MT, including decreases of 400 MT), Japan (7,800 MT, including decreases of 1,000 MT), Colombia (5,100 MT, including decreases of 200 MT), South Korea (4,900 MT, including decreases of 200 MT), and Honduras (2,600 MT, including 100 MT switched from the Dominican Republic). Net sales of 800 MT for 2025 were for South Korea. |
Weekly Export Details | Exports of 34,000 MT were up 49 percent from the previous week and 26 percent from the prior 4- week average. The destinations were primarily to Mexico (20,000 MT), Japan (3,500 MT), China (2,100 MT), Canada (1,800 MT), and South Korea (1,700 MT). |
Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.4% from last year. |
Huge weekly corn sales at 2.23 MMT
Corn sales during the week ended Oct 10, rose 82% from the previous week and noticeably from the four-week average. Soybean sales were also notable at 1.70 MMT, rising 35% on the week.
(Chip Flory)