| USDA Weekly Export Sales Report Week Ended Jan. 2, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2024-25: 445,000 |
| Expectations (in MT) | 2024-25: 700,000-1,400,000 |
| Weekly Sales Details | Net sales of 445,000 MT for 2024/2025--a marketing-year low--were down 43 percent from the previous week and 61 percent from the prior 4-week average. Increases primarily for Colombia (177,100 MT, including 82,600 MT switched from unknown destinations and decreases of 57,800 MT), Japan (91,100 MT, including 40,400 MT switched from unknown destinations and decreases of 10,900 MT), Mexico (77,900 MT, including 31,000 MT switched from unknown destinations and decreases of 36,400 MT), South Korea (67,800 MT, including 66,000 MT switched from unknown destinations), and the Dominican Republic (33,200 MT, including 32,000 MT switched from unknown destinations), were offset by reductions for Panama (17,500 MT), unknown destinations (10,100 MT), and Honduras (2,200 MT). |
| Weekly Export Details | Exports of 863,700 MT were down 14 percent from the previous week and 21 percent from the prior 4-week average. The destinations were primarily to Mexico (354,700 MT), Colombia (139,600 MT), Japan (133,100 MT), South Korea (68,200 MT), and the Dominican Republic (57,200 MT). |
| Comments and Performance Indicators | Export commitments are 29.6% ahead of a year-ago, compared to 30.3% ahead last week. USDA projects exports in 2024-25 at 2.475 billion bu., 8.0% above the previous marketing year. |
| Wheat | |
| Actual Sales (in MT) | 2024-25: 111,300 |
| Expectations (in MT) | 2024-25: 150,000-500,000 |
| Weekly Sales Details | Net sales of 111,300 metric tons (MT) for 2024/2025--a marketing-year low-- were down 21 percent from the previous week and 70 percent from the prior 4-week average. Increases primarily for South Korea (68,100 MT, including 63,000 MT switched from unknown destinations), the Philippines (35,300 MT), Nigeria (30,800 MT, including 30,000 MT switched from unknown destinations and decreases of 200 MT), Algeria (20,000 MT switched from unknown destinations), and the Dominican Republic (19,100 MT switched from unknown destinations and decreases of 9,000 MT), were offset by reductions for unknown destinations (89,000 MT), Panama (9,200 MT), Venezuela (4,400 MT), Barbados (2,100 MT), and the United Arab Emirates (1,000 MT). |
| Weekly Export Details | Exports of 414,300 MT were up 9 percent from the previous week and 22 percent from the prior 4-week average. The destinations were primarily to Mexico (149,500 MT), South Korea (67,100 MT), Nigeria (60,700 MT), the Philippines (35,300 MT), and Indonesia (22,000 MT). |
| Comments and Performance Indicators | Export commitments are 10.5% ahead of year-ago, compared to 10.7% 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: 288,700 |
| Expectations (in MT) | 2024-25: 400,000-1,300,000 |
| Weekly Sales Details | Net sales of 288,700 MT for 2024/2025--a marketing-year low--were down 40 percent from the previous week and 72 percent from the prior 4-week average. Increases primarily for the Netherlands (205,400 MT, including 180,000 MT switched from unknown destinations), China (171,800 MT, including 263,000 MT switched from unknown destinations and decreases of 69,000 MT), Indonesia (89,300 MT, including 55,000 MT switched from unknown destinations and decreases of 600 MT), Vietnam (81,700 MT, including 66,000 MT switched from unknown destinations), and Germany (69,200 MT), were offset by reductions for unknown destinations (696,100 MT) , Nigeria (1,800 MT), and Venezuela (100 MT). Total net sales of 400 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 1,580,100 MT were down 7 percent from the previous week and from the prior 4-week average. The destinations were primarily to China (650,200 MT), the Netherlands (205,400 MT), Indonesia (89,000 MT), Vietnam (78,100 MT), and Germany (69,200 MT). Export for Own Account: For 2024/2025, the current outstanding balance of 2,500 MT are for Taiwan (1,500 MT), Bangladesh (500 MT), and Malaysia (500 MT). |
| Comments and Performance Indicators | Export commitments are running 10.3% ahead of a year-ago, compared to 10.6% 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: 144,900 |
| Expectations | 2024-25: 150,000-400,000 |
| Weekly Sales Details | Net sales of 144,900 MT for 2024/2025 were down 29 percent from the previous week and 44 percent from the prior 4-week average. Increases primarily for Honduras (30,300 MT, including decreases of 600 MT), Nicaragua (26,600 MT), Venezuela (21,000 MT, including 19,500 MT switched from Colombia), Libya (20,000 MT), and Colombia (16,900 MT, including decreases of 1,900 MT), were offset by reductions for unknown destinations (6,000 MT), Panama (5,400 MT), Sri Lanka (300 MT), and the Philippines (100 MT). Total net sales of 1,100 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 234,900 MT were down 7 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Mexico (51,900 MT), the Dominican Republic (37,000 MT), Peru (33,000 MT), Canada (29,300 MT), and Venezuela (21,000 MT). |
| Comments and Performance Indicators | Export commitments are 17.3% ahead of a year-ago, compared to 16.3% 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: 34,600 |
| Expectations (in MT) | 2024-25: 20,000-60,000 |
| Weekly Sales Details | Net sales of 34,600 MT for 2024/2025 were down 9 percent from the previous week and 7 percent from the prior 4-week average. Increases primarily for India (23,000 MT), Venezuela (10,100 MT, including decreases of 4,000 MT), Colombia (4,000 MT, including decreases of 2,100 MT), Guatemala (500 MT), and Mexico (500 MT, including decreases of 2,700 MT), were offset by reductions for the Dominican Republic (3,000 MT) and unknown destinations (600 MT). Total net sales of 100 MT for 2025/2026 were for Canada. |
| Weekly Export Details | Exports of 10,900 MT were down 82 percent from the previous week and 63 percent from the prior 4-week average. The destinations were primarily to Colombia (4,000 MT), Jamaica (3,500 MT), Canada (2,100 MT), Mexico (1,100 MT), and Saudi Arabia (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: 137,400 |
| Weekly Sales Details | Net sales of Upland totaling 137,400 RB for 2024/2025 were up 7 percent from the previous week, but down 27 percent from the prior 4-week average. Increases primarily for Turkey (62,000 RB), Pakistan (25,500 RB), Vietnam (21,500 RB, including 200 RB switched from Japan), Nicaragua (12,300 RB), and Indonesia (11,600 RB, including 400 RB switched from Vietnam), were offset by reductions for India (3,100 RB), Japan (100 RB), and Mexico (100 RB). |
| Weekly Export Details | Exports of 191,700 RB--a marketing-year high--were up 66 percent from the previous week and 47 percent from the prior 4-week average. The destinations were primarily to Vietnam (45,400 RB), China (43,800 MT, including 2,000 RB - late), Pakistan (42,800 RB), Turkey (14,800 RB), and Bangladesh (7,000 RB). Net sales of Pima totaling 6,400 RB for 2024/2025 were up noticeably from the previous week and from the prior 4-week average. Increases reported for India (4,000 RB), Vietnam (2,200 RB), and Pakistan (300 RB), were offset by reductions for Peru (100 RB). Exports of 8,300 RB were up 28 percent from the previous week, but down 14 percent from the prior 4-week average. The destinations were primarily to India (3,600 RB), Peru (2,900 RB), Thailand (600 RB), Pakistan (600 RB), and Turkey (400 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 12.8% 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: 5,600 |
| Weekly Sales Details | Net sales 5,600 MT for 2025 marketing year, which began January 1, were primarily for Mexico (2,400 MT, including decreases of 2,800 MT), South Korea (1,300 MT, including decreases of 200 MT), Japan (900 MT, including decreases of 200 MT), China (500 MT, including decreases of 100 MT), and Canada (300 MT, including decreases of 100 MT), were offset by reductions for the Dominican Republic (200MT) and Indonesia (100 MT). Net sales reductions of 800 MT were carried over from the 2024 marketing year, which ended December 31. |
| Weekly Export Details | Exports for the period ending December 31 of 10,400 MT brought accumulated exports to 797,700 MT, down 2 percent from the prior year total of 810,200 MT. The primary destinations were to Japan (3,300 MT), South Korea (2,800 MT), China (1,600 MT), Mexico (800 MT), and Taiwan (500 MT). Exports for January 1 of 600 MT were primarily to South Korea (300 MT), Mexico (100 MT), and China (100 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 2.6% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 31,000 |
| Weekly Sales Details | Net sales of 31,000 MT for 2025 marketing year, which began January 1, were primarily for Mexico (20,600 MT, including decreases of 100 MT), Japan (3,000 MT, including decreases of 200 MT), Colombia (2,400 MT), South Korea (1,800 MT, including decreases of 200 MT), and Canada (1,200 MT, including decreases of 500 MT). Net sales of 500 MT were carried over from the 2024 marketing year, which ended December 31. |
| Weekly Export Details | Exports for the period ending December 31 of 20,500 MT brought accumulated exports to 1,677,600 MT, up 6 percent from the prior year total of 1,580,000 MT. The primarily destinations were to Mexico (8,300 MT), Japan (3,000 MT), South Korea (2,500 MT), China (2,000 MT), and Canada (1,100 MT). Exports for January 1 of 5,000 MT were primarily to Mexico (2,300 MT), South Korea (600 MT), Japan (400 MT), China (400 MT), and Canada (300 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 1.7% from last year. |
Weekly corn, soybeans, wheat sales extend to marketing-year lows
Corn and soybean sales during the week ended Jan. 2 were each down 40% from the previous week, while wheat sales dipped 21%.
(Chip Flory)