| USDA Weekly Export Sales Report Week Ended Jan. 16, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2024-25: 1,661,000 |
| Expectations (in MT) | 2024-25: 700,000-1,700,000 |
| Weekly Sales Details | Net sales of 1,661,000 MT for 2024/2025 were up 62 percent from the previous week and 68 percent from the prior 4-week average. Increases primarily for South Korea (462,100 MT, including 258,000 MT switched from unknown destinations and 65,000 MT switched from Japan), Taiwan (277,500 MT, including decreases of 600 MT), Japan (249,500 MT, including 120,000 MT switched from unknown destinations and decreases of 1,600 MT), Mexico (237,600 MT, including 30,000 MT switched from unknown destinations and decreases of 2,100 MT), and Spain (205,100 MT, including 190,500 MT switched from unknown destinations), were offset by reductions for unknown destinations (111,300 MT) and Guatemala (13,900 MT). Net sales of 9,200 MT for 2025/2026 were reported for Mexico (5,100 MT), Japan (3,900 MT), and China (200 MT). |
| Weekly Export Details | Exports of 1,516,700 MT--a marketing-year high--were up 2 percent from the previous week and 36 percent from the prior 4-week average. The destinations were primarily to Japan (376,500 MT), Mexico (345,700 MT), South Korea (278,500 MT), Spain (205,600 MT), and Colombia (132,300 MT). |
| Comments and Performance Indicators | Export commitments are 29.1% ahead of a year-ago, compared to 29.6% 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: 164,800 |
| Expectations (in MT) | 2024-25: 200,000-600,000 |
| Weekly Sales Details | Net sales of 164,800 metric tons (MT) for 2024/2025 were down 68 percent from the previous week and 52 percent from the prior 4-week average. Increases were primarily for Mexico (57,500 MT, including decreases of 7,400 MT), Japan (49,200 MT), the Philippines (15,000 MT), Jamaica (12,500 MT), and Honduras (11,100 MT). Net sales of 50,500 MT for 2025/2026 were reported for the Philippines (33,000 MT), Japan (14,000 MT), Mexico (3,000 MT), and Peru (500 MT). |
| Weekly Export Details | Exports of 201,300 MT were up 2 percent from the previous week, but down 41 percent from the prior 4-week average. The destinations were primarily to South Korea (55,000 MT), Mexico (46,100 MT), Japan (35,600 MT), Honduras (30,700 MT), and Taiwan (25,400 MT). |
| Comments and Performance Indicators | Export commitments are 6.9% ahead of year-ago, compared to 10.5% 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: 1,491,800 |
| Expectations (in MT) | 2024-25: 600,000-1,800,000 |
| Weekly Sales Details | Net sales of 1,491,800 MT for 2024/2025 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for China (888,600 MT, including 200,000 MT switched from unknown destinations), Japan (120,700 MT, including 51,600 MT switched from unknown destinations and decreases of 24,000 MT), Mexico (119,900 MT, including decreases of 1,500 MT), unknown destinations (112,400 MT), and Spain (71,600 MT, including 66,000 MT switched from unknown destinations), were offset by reductions for Vietnam (1,900 MT) and Bangladesh (1,500 MT). Total net sales of 900 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 1,034,600 MT were down 30 percent from the previous week and 33 percent from the prior 4-week average. The destinations were primarily to China (494,500 MT), Mexico (79,700 MT), Spain (71,600 MT), Germany (69,600 MT), and Egypt (67,300 MT). |
| Comments and Performance Indicators | Export commitments are running 11.5% ahead of a year-ago, compared to 10.3% 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: 208,700 |
| Expectations | 2024-25: 100,000-450,000 |
| Weekly Sales Details | Net sales of 208,700 MT for 2024/2025 were up 45 percent from the previous week, but down 5 percent from the prior 4-week average. Increases primarily for Mexico (45,800 MT, including decreases of 2,300 MT), Venezuela (35,800 MT, including 10,800 MT switched from unknown destinations), Jamaica (30,900 MT), the Dominican Republic (19,200 MT), and Japan (19,200 MT), were offset by reductions for Belgium (300 MT). Net sales of 1,500 MT for 2025/2026 were reported for Mexico (800 MT) and Canada (700 MT). |
| Weekly Export Details | Exports of 173,000 MT were down 51 percent from the previous week and 39 percent from the prior 4-week average. The destinations were primarily to Mexico (48,800 MT), Ecuador (30,300 MT), Canada (18,600 MT), El Salvador (17,200 MT), and Morocco (16,500 MT). |
| Comments and Performance Indicators | Export commitments are 12.7% ahead of a year-ago, compared to 17.3% 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: 2,900 |
| Expectations (in MT) | 2024-25: 10,000-60,000 |
| Weekly Sales Details | Net sales of 2,900 MT for 2024/2025 were down 95 percent from the previous week and 93 percent from the prior 4-week average. Increases reported for Colombia (8,800 MT), South Korea (1,000 MT), Mexico (400 MT), Canada (100 MT), and the Dominican Republic (100 MT), were offset by reductions for unknown destinations (5,500 MT) and Venezuela (2,000 MT). |
| Weekly Export Details | Exports of 2,900 MT were down 93 percent from the previous week and 92 percent from the prior 4-week average. The destinations were primarily to Mexico (2,000 MT), Canada (700 MT), and the Dominican Republic (100 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: 348,900 |
| Weekly Sales Details | Net sales of Upland totaling 348,900 RB for 2024/2025--a marketing-year high- -were up 10 percent from the previous week and 62 percent from the prior 4-week average. Increases were primarily for Vietnam (94,500 RB, including 200 RB switched from South Korea), Pakistan (75,400 RB), Turkey (66,800 RB), Bangladesh (36,500 RB, including 2,100 RB - late), and Nicaragua (23,400 RB). Net sales of 79,800 RB for 2025/2026 were primarily for Indonesia (70,400 RB), Turkey (4,400 RB), and Italy (3,300 RB). |
| Weekly Export Details | Exports of 222,600 RB were down 1 percent from the previous week, but up 32 percent from the prior 4-week average. The destinations were primarily to Pakistan (60,000 RB), Vietnam (47,800 RB), China (19,800 RB), Mexico (17,600 RB), and Turkey (14,100 RB). Net sales of Pima totaling 6,100 RB for 2024/2025 were up noticeably from the previous week and up 81 percent from the prior 4-week average. Increases were primarily for China (4,600 RB), Turkey (400 RB), Italy (300 RB), Thailand (300 RB), and Pakistan (300 RB). Exports of 3,300 RB were down 60 percent from the previous week and 64 percent from the prior 4-week average. The destinations were primarily to Pakistan (900 RB), Vietnam (900 RB), India (700 RB), Turkey (400 RB), and Peru (200 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 11.5% behind a year ago, compared to 12.8% 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: 15,100 |
| Weekly Sales Details | Net sales of 15,100 MT for 2025 were primarily for China (3,900 MT), Japan (3,200 MT, including decreases of 1,200 MT), South Korea (3,200 MT, including decreases of 500 MT), Mexico (1,500 MT), and Taiwan (900 MT, including decreases of 100 MT). |
| Weekly Export Details | Exports of 11,800 MT were primarily to South Korea (3,100 MT), Japan (2,700 MT), China (2,000 MT), Mexico (1,300 MT), and Canada (800 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 2.6% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 37,700 |
| Weekly Sales Details | Net sales of 37,700 MT for 2025 were primarily for Japan (9,600 MT, including decreases of 100 MT), Mexico (9,000 MT, including decreases of 200 MT), South Korea (7,500 MT, including decreases of 700 MT), Colombia (2,300 MT, including decreases of 100 MT), and Australia (2,000 MT). |
| Weekly Export Details | Exports of 22,800 MT were primarily to Mexico (10,300 MT), South Korea (2,700 MT), China (2,500 MT), Japan (2,300 MT), and Canada (1,300 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.2% from last year. |
Weekly corn, soybean sales prove solid; wheat sales slide
Corn sales during the week ended Jan. 16 rose 62% from the previous week, while soybean sales were more than double. Meanwhile, wheat sales slid 68%, missing pre-report expectations.
(Chip Flory)