| USDA Weekly Export Sales Report Week Ended Nov. 28, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2024-25: 1,732,400 |
| Expectations (in MT) | 2024-25: 750,000-1,500,000 |
| Weekly Sales Details | Net sales of 1,732,400 MT for 2024/2025 were up 63 percent from the previous week and 4 percent from the prior 4-week average. Increases primarily for Mexico (392,400 MT, including decreases of 9,100 MT), Japan (357,700 MT, including 65,000 MT switched from unknown destinations and decreases of 3,300 MT), unknown destinations (283,600 MT), South Korea (212,700 MT, including 66,000 MT switched from unknown destinations and deceases of 1,700 MT), and Costa Rica (84,200 MT, including decreases of 1,500 MT), were offset by reductions for Guatemala (27,700 MT). Total net sales of 22,100 MT for 2025/2026 were for Mexico. |
| Weekly Export Details | Exports of 1,045,400 MT were up 3 percent from the previous week and 17 percent from the prior 4-week average. The destinations were primarily to Mexico (319,000 MT), Colombia (240,500 MT), South Korea (135,900 MT), Japan (122,700 MT), and Honduras (90,900 MT). |
| Comments and Performance Indicators | Export commitments are 32.8% ahead of a year-ago, compared to 32.7% 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: 378,200 |
| Expectations (in MT) | 2024-25: 250,000-550,000 |
| Weekly Sales Details | Net sales of 378,200 metric tons (MT) for 2024/2025 were up 3 percent from the previous week, but down 10 percent from the prior 4-week average. Increases primarily for Mexico (151,900 MT, including decreases of 900 MT), South Korea (136,000 MT), unknown destinations (54,900 MT), Venezuela (34,100 MT, including 35,700 MT switched from the Leeward and Windward Islands and decreases of 2,100 MT), and Algeria (28,500 MT, including 30,000 MT switched from Italy and decreases of 1,500 MT), were offset by reductions for the Leeward and Windward Islands (35,700 MT), Italy (20,400 MT), the Philippines (11,400 MT), and Honduras (6,400 MT). |
| Weekly Export Details | Exports of 322,400 MT were down 26 percent from the previous week, but up 17 percent from the prior 4-week average. The destinations were primarily to Mexico (87,100 MT), the Philippines (86,600 MT), South Korea (42,300 MT), Venezuela (34,100 MT), and Algeria (28,500 MT). |
| Comments and Performance Indicators | Export commitments are 19.2% ahead of year-ago, compared to 19.6% 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: 2,312,700 |
| Expectations (in MT) | 2024-25: 1,100,000-2,500,000 |
| Weekly Sales Details | Net sales of 2,312,700 MT for 2024/2025 were down 7 percent from the previous week, but up 17 percent from the prior 4-week average. Increases primarily for China (669,700 MT, including 321,000 MT switched from unknown destinations and decreases of 7,200 MT), unknown destinations (432,700 MT), Spain (352,400 MT, including 330,000 MT switched from unknown destinations and decreases of 1,900 MT), Mexico (181,000 MT, including decreases of 1,700 MT), and Egypt (175,900 MT, including 55,000 MT switched from unknown destinations and decreases of 10,000 MT), were offset by reductions for Ireland (21,500 MT) and Iraq (1,500 MT). Total net sales of 200 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 2,428,900 MT were up 17 percent from the previous week and 5 percent from the prior 4-week average. The destinations were primarily to China (1,246,300 MT), Spain (478,400 MT), Taiwan (96,300 MT - including 70,400 MT - late), Mexico (78,500 MT), and Turkey (71,000 MT). |
| Comments and Performance Indicators | Export commitments are running 12.1% ahead of a year-ago, compared to 9.7% behind last week. USDA projects exports in 2024-25 at 1.825 billion bu., up 7.7% from the previous marketing year. |
| Soymeal | |
| Actual Sales (in MT) | 2024-25: 276,000 |
| Expectations | 2024-25: 150,000-550,000 |
| Weekly Sales Details | Net sales of 276,000 MT for 2024/2025 were down 43 percent from the previous week and 25 percent from the prior 4-week average. Increases primarily for Colombia (124,000 MT, including decreases of 21,500 MT), Mexico (51,400 MT, including decreases of 300 MT), the Dominican Republic (25,600 MT, including 11,400 MT switched from Panama and decreases of 800 MT), Panama (17,400 MT), and Venezuela (13,500 MT), were offset by reductions for Guatemala (5,700 MT), Nicaragua (4,600 MT), Sri Lanka (2,100 MT), and Kuwait (600 MT). Total net sales of 4,500 MT for 2025/2026 were for Mexico. |
| Weekly Export Details | Exports of 417,000 MT were up 26 percent from the previous week and 35 percent from the prior 4-week average. The destinations were primarily to Vietnam (108,700 MT), Colombia (76,300 MT), Mexico (74,200 MT), the Philippines (52,100 MT), and Venezuela (33,000 MT). |
| Comments and Performance Indicators | Export commitments are 15.2% ahead of a year-ago, compared to 12.7% ahead last week. USDA projects exports in 2023-24 will increase 8.0% from the previous marketing year in 2023-24. |
| Soyoil | |
| Actual Sales (in MT) | 2024-25: 19,500 |
| Expectations (in MT) | 2024-25: 10,000-60,000 |
| Weekly Sales Details | Net sales of 19,500 MT for 2024/2025 were down 84 percent from the previous week and 72 percent from the prior 4-week average. Increases primarily for unknown destinations (13,000 MT), Colombia (7,500 MT, including 3,500 MT switched from Jamaica and decreases of 500 MT), the Dominican Republic (5,100 MT, including decreases of 2,000 MT), Mexico (4,500 MT, including decreases of 2,000 MT), and Guatemala (2,500 MT), were offset by reductions for China (13,000 MT), Jamaica (3,500 MT), South Korea (900 MT), and Canada (300 MT). |
| Weekly Export Details | Exports of 39,000 MT were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to South Korea (18,500 MT), the Dominican Republic (11,500 MT), Mexico (2,800 MT), Honduras (2,200 MT), and Colombia (2,000 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: 170,700 |
| Weekly Sales Details | Net sales of Upland totaling 170,700 RB for 2024/2025 were down 47 percent from the previous week and 33 percent from the prior 4-week average. Increases primarily for Vietnam (84,300 RB, including 900 RB switched from Hong Kong), Pakistan (36,700 RB), Turkey (20,400 RB), China (12,700 RB), and Colombia (9,300 RB), were offset by reductions for Hong Kong (900 RB). |
| Weekly Export Details | Exports of 157,500 RB were up 21 percent from the previous week and 18 percent from the prior 4-week average. The destinations were primarily to Pakistan (31,500 RB), China (24,800 RB, including decreases of 4,400 RB), Vietnam (20,900 RB), Mexico (12,400 RB), and Bangladesh (10,100 RB). Net sales of Pima totaling 3,700 RB for 2024/2025 were down 66 percent from the previous week and 60 percent from the prior 4-week average. Increases were primarily for India (2,300 RB), Thailand (400 RB), Peru (300 RB), Turkey (300 RB), and China (200 RB). Exports of 5,700 RB were down 28 percent from the previous week and 17 percent from the prior 4- week average. The destinations were primarily to India (2,000 RB), Peru (1,100 RB), Vietnam (1,000 RB), China (900 RB), and Pakistan (400 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 13.0% behind a year ago, compared to 14.0% 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: 100 |
| Weekly Sales Details | Net sales of 100 MT for 2024--a marketing-year low--were down 97 percent from the previous week and 99 percent from the prior 4-week average. Increases primarily for Japan (1,700 MT, including deceases of 1,000 MT), Canada (700 MT, including decreases of 100 MT), China (600 MT, including decreases of 1,700 MT), Mexico (400 MT, including decreases of 100 MT), and Taiwan (200 MT, including decreases of 300 MT), were offset by reductions for South Korea (3,300 MT), Hong Kong (500 MT), and Saudi Arabia (100 MT). Net sales of 13,700 MT for 2025 were primarily for South Korea (7,000 MT), China (3,000 MT), Japan (1,700 MT), Hong Kong (1,200 MT), and Mexico (300 MT). |
| Weekly Export Details | Exports of 14,400 MT were down 1 percent from the previous week and 6 percent from the prior 4-week average. The destinations were primarily to South Korea (3,900 MT), Japan (3,400 MT), China (2,100 MT), Mexico (1,500 MT), and Taiwan (1,100 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 2.6% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 35,200 |
| Weekly Sales Details | Net sales of 35,200 MT for 2024 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (15,400 MT, including decreases of 200 MT), South Korea (9,100 MT, including decreases of 1,300 MT), China (3,400 MT), Australia (2,300 MT), and Japan (2,200 MT, including decreases of 600 MT), were offset by reductions for Malaysia (400 MT) and Hong Kong (400 MT). Net sales of 26,600 MT for 2025 were primarily for China (10,300 MT), Mexico (8,700 MT), South Korea (5,300 MT), Colombia (1,000 MT), and Japan (500 MT). |
| Weekly Export Details | Exports of 32,200 MT were up 14 percent from the previous week and 2 percent from the prior 4-week average. The destinations were primarily to Mexico (12,700 MT), Japan (3,700 MT), South Korea (3,600 MT), China (3,500 MT), and Canada (2,100 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.8% from last year. |
Weekly corn sales solid at 1.7 MMT
Corn sales rose 63% from the previous week and 4% from the four-week average, while soybean sales were also notable at 2.3 MMT.
(Chip Flory)