| USDA Weekly Export Sales Report Week Ended Jan. 30, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2024-25: 1,477,200 |
| Expectations (in MT) | 2024-25: 850,000-1,500,000 |
| Weekly Sales Details | Net sales of 1,477,200 MT for 2024/2025 were up 9 percent from the previous week and 32 percent from the prior 4-week average. Increases primarily for Mexico (251,700 MT, including decreases of 5,200 MT), Japan (214,000 MT, including 67,400 MT switched from unknown destinations and decreases of 4,200 MT), South Korea (210,000 MT), Guatemala (152,700 MT), and Colombia (108,900 MT, including 52,000 MT switched from unknown destinations and decreases of 1,300 MT), were offset by reductions for unknown destinations (169,000 MT). Net sales of 50,000 MT for 2025/2026 were reported for Japan (37,900 MT), Mexico (8,100 MT), and Nicaragua (4,000 MT). |
| Weekly Export Details | Exports of 1,352,300 MT were up 2 percent from the previous week and 4 percent from the prior 4- week average. The destinations were primarily to Mexico (403,200 MT), Japan (213,900 MT), South Korea (210,000 MT), Taiwan (78,500 MT), and Colombia (74,900 MT). |
| Comments and Performance Indicators | Export commitments are 28.2% ahead of a year-ago, compared to 28.5% ahead last week. USDA projects exports in 2024-25 at 2.450 billion bu., 6.9% above the previous marketing year. |
| Wheat | |
| Actual Sales (in MT) | 2024-25: 438,900 |
| Expectations (in MT) | 2024-25: 200,000-550,000 |
| Weekly Sales Details | Net sales of 438,900 metric tons (MT) for 2024/2025 were down 4 percent from the previous week, but up 41 percent from the prior 4-week average. Increases primarily for Mexico (122,000 MT, including decreases of 11,300 MT), unknown destinations (111,000 MT), Panama (77,300 MT), Ecuador (33,000 MT, including 30,000 MT switched from unknown destinations), and Japan (18,700 MT, including decreases of 1,000 MT and 1,100 MT - late), were offset by reductions for Venezuela (1,300 MT) and Canada (800 MT). Net sales of 47,300 MT for 2025/2026 were reported for Mexico (23,100 MT), unknown destinations (12,000 MT), Colombia (6,500 MT), and Guatemala (5,700 MT). |
| Weekly Export Details | Exports of 264,800 MT were down 55 percent from the previous week and 24 percent from the prior 4-week average. The destinations were primarily to the Philippines (55,000 MT), South Korea (40,000 MT), Egypt (38,300 MT), Japan (38,200 MT), and Ecuador (33,000 MT). |
| Comments and Performance Indicators | Export commitments are 7.7% ahead of year-ago, compared to 7.5% ahead last week. USDA projects exports in 2024-25 exports are projected at 850 million bu., up 20.2% from last year. |
| Soybeans | |
| Actual Sales (in MT) | 2024-25: 387,700 |
| Expectations (in MT) | 2024-25: 300,000-1,100,000 |
| Weekly Sales Details | Net sales of 387,700 MT for 2024/2025 were down 12 percent from the previous week and 40 percent from the prior 4-week average. Increases primarily for China (208,700 MT, including 66,000 MT switched from unknown destinations and decreases of 700 MT), the Netherlands (125,200 MT, including 120,000 MT switched from unknown destinations and decreases of 2,500 MT), Egypt (107,900 MT, including 55,000 MT switched from Spain), Mexico (63,700 MT, including decreases of 3,900 MT), and South Korea (60,900 MT, including 62,000 MT switched from unknown destinations and decreases of 1,100 MT), were offset by reductions for unknown destinations (262,800 MT), Spain (53,800 MT), Venezuela (4,100 MT), and Italy (2,200 MT). |
| Weekly Export Details | Exports of 1,193,400 MT were down 62 percent from the previous week and 3 percent from the prior 4-week average. The destinations were primarily to China (347,900 MT), the Netherlands (125,200 MT), Mexico (122,800 MT), Egypt (111,900 MT), and Japan (104,900 MT). |
| Comments and Performance Indicators | Export commitments are running 12.4% ahead of a year-ago, compared to 12.0% 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: 530,600 |
| Expectations | 2024-25: 200,000-500,000 |
| Weekly Sales Details | Net sales of 530,600 MT for 2024/2025--a marketing-year high-- were up 29 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for the Philippines (98,800 MT), Guatemala (81,600 MT), Venezuela (70,600 MT, including 24,900 MT switched from Panama, 16,500 MT switched from Colombia, and decreases of 1,100 MT), the Dominican Republic (56,600 MT, including 17,000 MT switched from unknown destinations and decreases of 7,400 MT), and Mexico (51,500 MT, including decreases of 1,800 MT), were offset by reductions for Ecuador (1,400 MT) and Nepal (500 MT). Net sales of 2,000 MT for 2025/2026 were primarily for Mexico (1,600 MT). |
| Weekly Export Details | Exports of 466,800 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to the Philippines (101,300 MT), Venezuela (65,600 MT), Colombia (64,600 MT), Mexico (53,000 MT), and the Dominican Republic (49,400 MT). |
| Comments and Performance Indicators | Export commitments are 13.5% ahead of a year-ago, compared to 11.0% 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: 2,200 MT |
| Expectations (in MT) | 2024-25: (15,000)-30,000 |
| Weekly Sales Details | Net sales of 2,200 MT for 2024/2025 were down 82 percent from the previous week and 92 percent from the prior 4-week average. Increases primarily for Colombia (3,700 MT), Costa Rica (3,500 MT), Guatemala (3,000 MT), Nicaragua (2,200 MT), and Haiti (2,000 MT), were offset by reductions for India (13,000 MT) and the Dominican Republic (1,400 MT). |
| Weekly Export Details | Exports of 48,100 MT were down 54 percent from the previous week, but up 24 percent from the prior 4-week average. The destinations were primarily to South Korea (10,500 MT), Algeria (10,000 MT), Venezuela (7,500 MT), Mexico (7,300 MT), and Guatemala (6,200 MT). |
| Comments and Performance Indicators | Export commitments are well ahead of year-ago. USDA projects exports will jump 78.3% in 2023-24. |
| Cotton | |
| Actual Upland Sales (in RB) | 2024-25: 188,900 |
| Weekly Sales Details | Net sales of Upland totaling 188,900 RB for 2024/2025 were down 33 percent from the previous week and 30 percent from the prior 4-week average. Increases primarily for Turkey (49,700 RB, including decreases of 200 RB), Pakistan (44,300 RB, including decreases of 700 RB), Vietnam (30,800 RB, including 1,700 RB switched from Hong Kong, 700 RB switched from South Korea, 100 RB switched from Japan, and decreases of 300 RB), China (15,200 RB, including decreases of 300 RB), and Bangladesh (12,400 RB), were offset by reductions for Hong Kong (1,800 RB), South Korea (700 RB), Mexico (300 RB), and Costa Rica (100 RB). Net sales of 14,900 RB for 2025/2026 were primarily for Malaysia (13,200 RB) and Japan (1,200 RB). |
| Weekly Export Details | Exports of 221,100 RB were up 44 percent from the previous week and 12 percent from the prior 4-week average. The destinations were primarily to Vietnam (58,900 RB), Pakistan (36,400 RB), China (26,500 RB), Turkey (25,900 RB), and Mexico (17,200 RB). Net sales of Pima totaling 5,900 RB for 2024/2025 were down 18 percent from the previous week, but up 4 percent from the prior 4-week average. Increases were primarily for Peru (2,400 RB), India (1,800 RB), Vietnam (900 RB), Turkey (300 RB), and Indonesia (200 RB). Exports of 15,500 RB--a marketing-year high--were up 97 percent from the previous week and up noticeably from the prior 4-week average. The destinations were primarily to India (7,500 RB), Peru (1,900 RB), Vietnam (1,500 RB), China (1,300 RB), and Turkey (1,000 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 12.4% behind a year ago, compared to 11.2% behind last week. USDA forecasts total cotton exports will fall 6.4% from a year ago to 11.00 million bales in 2024-25. |
| Beef | |
| Actual Sales (in MT) | 2024: 24,900 |
| Weekly Sales Details | Net sales of 24,900 MT for 2025 primarily for South Korea (3,900 MT, including decreases of 500 MT), Japan (3,300 MT, including decreases of 700 MT), China (2,500 MT, including decreases of 300 MT), the Dominican Republic (1,800 MT), and Ecuador (1,800 MT), were offset by reductions for the United Kingdom (100 MT). |
| Weekly Export Details | Exports of 19,800 MT were primarily to South Korea (5,700 MT), Japan (5,000 MT), China (3,700 MT), Mexico (1,500 MT), and Taiwan (1,400 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 2.6% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 50,700 |
| Weekly Sales Details | Net sales of 50,700 MT for 2025 were primarily for Mexico (21,000 MT, including decreases of 600 MT), South Korea (7,200 MT, including decreases of 1,700 MT), Japan (6,500 MT, including decreases of 500 MT), the Bahamas (4,700 MT), and Colombia (3,600 MT, including decreases of 200 MT). |
| Weekly Export Details | Exports of 37,800 MT were primarily to Mexico (13,900 MT), Japan (5,500 MT), South Korea (4,000 MT), China (3,600 MT), and Canada (2,700 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.2% from last year. |
Weekly corn sales remain stable
Corn sales during the week ended Jan. 30 totaled 1.48 MMT, rising 9% from the previous week and 32% from the four-week average.
(Chip Flory)