| USDA Weekly Export Sales Report Week Ended Feb. 6, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2024-25: 1,649,000 |
| Expectations (in MT) | 2024-25: 800,000-1,700,000 |
| Weekly Sales Details | Net sales of 1,649,000 MT for 2024/2025 were up 12 percent from the previous week and 20 percent from the prior 4-week average. Increases primarily for Japan (459,400 MT, including 73,100 MT switched from unknown destinations), South Korea (325,400 MT, including 127,000 MT switched from unknown destinations and decreases of 3,800 MT), Mexico (262,600 MT, including 29,000 MT switched from unknown destinations and decreases of 128,200 MT), Colombia (250,900 MT, including 68,000 MT switched from unknown destinations and decreases of 29,900 MT), and Taiwan (70,000 MT), were offset by reductions for unknown destinations (87,600 MT), Panama (18,600 MT), and Canada (9,000 MT). Net sales of 350,100 MT for 2025/2026 were reported for Mexico (330,000 MT), Honduras (14,000 MT), and unknown destinations (6,100 MT). |
| Weekly Export Details | Exports of 1,354,300 MT were unchanged from the previous week, but down 5 percent from the prior 4-week average. The destinations were primarily to Mexico (299,400 MT), Japan (231,200 MT), South Korea (188,600 MT), Colombia (185,800 MT), and Vietnam (73,100 MT). |
| Comments and Performance Indicators | Export commitments are 28.2% ahead of a year-ago, compared to 28.2% 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: 569,600 |
| Expectations (in MT) | 2024-25: 200,000-600,000 |
| Weekly Sales Details | Net sales of 569,600 metric tons (MT) for 2024/2025 were up 30 percent from the previous week and 45 percent from the prior 4-week average. Increases primarily for Mexico (127,600 MT, including decreases of 2,100 MT), South Korea (84,400 MT), the Philippines (79,100 MT, including decreases of 4,100 MT), Thailand (56,000 MT), and Japan (46,400 MT), were offset by reductions for Panama (3,000 MT) and Spain (500 MT). Net sales of 36,800 MT for 2025/2026 were reported for Japan (25,000 MT), Mexico (10,000 MT), and Colombia (1,800 MT). |
| Weekly Export Details | Exports of 577,300 MT were up noticeably from the previous week and up 85 percent from the prior 4-week average. The destinations were primarily to the Philippines (186,600 MT), Mexico (95,400 MT), the Dominican Republic (67,300 MT), Japan (62,300 MT), and Nigeria (36,500 MT). |
| Comments and Performance Indicators | Export commitments are 8.9% ahead of year-ago, compared to 7.7% 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: 185,500 |
| Expectations (in MT) | 2024-25: 300,000-800,000 |
| Weekly Sales Details | Net sales of 185,500 MT for 2024/2025 were down 52 percent from the previous week and 74 percent from the prior 4-week average. Increases primarily for China (222,000 MT, including 66,000 MT switched from Spain and 66,000 MT switched from unknown destinations), Egypt (205,200 MT, including 140,000 MT switched from unknown destinations), the Netherlands (68,700 MT, including 60,000 MT switched from unknown destinations), Japan (50,000 MT, including 41,200 MT switched from unknown destinations and decreases of 1,500 MT), and South Korea (48,200 MT, including 45,700 MT switched from unknown destinations), were offset by reductions for unknown destinations (365,200 MT), Spain (66,000 MT), Algeria (45,000 MT), and Italy (2,800 MT). Total net sales of 24,300 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 1,101,400 MT were down 8 percent from the previous week, but up 1 percent from the prior 4-week average. The destinations were primarily to China (552,100 MT), Egypt (155,000 MT), Mexico (80,800 MT), the Netherlands (68,700 MT), and Japan (54,500 MT). |
| Comments and Performance Indicators | Export commitments are running 12.1% ahead of a year-ago, compared to 12.4% 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: 336,700 |
| Expectations | 2024-25: 200,000-600,000 |
| Weekly Sales Details | Net sales of 336,700 MT for 2024/2025 were down 37 percent from the previous week, but up 4 percent from the prior 4-week average. Increases primarily for Colombia (87,300 MT, including 10,000 MT switched from unknown destinations and decreases of 2,900 MT), unknown destinations (58,000 MT), Bangladesh (48,000 MT), the Dominican Republic (39,500 MT, including 17,000 MT switched from unknown destinations and decreases of 800 MT), and Venezuela (30,000 MT), were offset by reductions for Panama (8,400 MT) and Indonesia (300 MT). |
| Weekly Export Details | Exports of 267,500 MT were down 43 percent from the previous week and 7 percent from the prior 4-week average. The destinations were primarily to Mexico (73,200 MT), Colombia (39,100 MT), Honduras (32,900 MT), Guatemala (30,900 MT), and Canada (27,000 MT). |
| Comments and Performance Indicators | Export commitments are 14.7% ahead of a year-ago, compared to 13.5% 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: (2,800) |
| Expectations (in MT) | 2024-25: 0-25,000 |
| Weekly Sales Details | Net sales reduction of 2,800 MT for 2024/2025--a marketing-year low-- were down noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (3,500 MT), the Dominican Republic (1,700 MT), Guatemala (1,500 MT), Colombia (400 MT, including decreases of 1,400 MT), and Nicaragua (200 MT), were more than offset by reductions for India (9,700 MT) and Venezuela (500 MT). |
| Weekly Export Details | Exports of 38,400 MT were down 20 percent from the previous week and from the prior 4-week average. The destinations were to India (23,300 MT), Colombia (10,000 MT), Mexico (3,500 MT), and Canada (1,600 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: 244,700 |
| Weekly Sales Details | Net sales of Upland totaling 244,700 RB for 2024/2025 were up 30 percent from the previous week, but down 14 percent from the prior 4-week average. Increases primarily for Bangladesh (54,100 RB, including 49,600 RB - late), Vietnam (51,600 RB, including 1,300 RB switched from China, 900 RB switched from South Korea, and decreases of 12,600 RB), Turkey (36,700 RB), Pakistan (29,700 RB), and Guatemala (19,700 RB), were offset by reductions for South Korea (900 RB) and Japan (200 RB). Net sales of 19,100 RB for 2025/2026 were reported for Honduras (10,000 RB), Mexico (5,000 RB), Pakistan (2,300 RB), and Japan (1,800 RB). |
| Weekly Export Details | Exports of 260,900 RB--a marketing-year high--were up 18 percent from the previous week and 27 percent from the prior 4-week average. The destinations were primarily to Vietnam (91,000 RB), Pakistan (57,500 RB), Turkey (20,900 RB), China (17,700 RB), and India (13,300 RB). Net sales of Pima totaling 4,000 RB for 2024/2025 were down 33 percent from the previous week and 29 percent from the prior 4-week average. Increases primarily for China (2,000 RB), Peru (1,000 RB), Pakistan (300 RB), Bangladesh (300 RB), and Thailand (200 RB), were offset by reductions for Italy (100 RB). Exports of 1,100 RB--a marketing-year low--were down 93 percent from the previous week and 87 percent from the prior 4-week average. The destinations were primarily to India (800 RB), Turkey (100 RB), and Thailand (100 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 11.4% behind a year ago, compared to 12.4% 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: 13,100 |
| Weekly Sales Details | Net sales of 13,100 MT for 2025 primarily for South Korea (7,400 MT, including decreases of 400 MT), Japan (2,700 MT, including decreases of 300 MT), Mexico (1,000 MT, including decreases of 100 MT), Canada (500 MT, including decreases of 100 MT), and Taiwan (400 MT, including decreases of 100 MT), were offset by reductions for China (500 MT). |
| Weekly Export Details | Exports of 14,900 MT were primarily to South Korea (4,800 MT), Japan (3,600 MT), China (2,200 MT), Mexico (1,300 MT), and Canada (800 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 6.9% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 24,900 |
| Weekly Sales Details | Net sales of 24,900 MT for 2025 were primarily for Japan (6,200 MT), Mexico (5,000 MT, including decreases of 200 MT), South Korea (3,600 MT, including decreases of 200 MT), the Dominican Republic (2,300 MT), and Colombia (2,200 MT, including decreases of 100 MT). |
| Weekly Export Details | Exports of 31,000 MT were primarily to Mexico (12,000 MT), South Korea (4,000 MT), Japan (3,900 MT), China (3,200 MT), and Colombia (1,700 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 2.5% from last year. |
Weekly soybean sales dwindle
Soybean sales continue to decline seasonally, falling short of analysts pre-report range for the week ended Feb. 6. Meanwhile corn and wheat sales each rose from the previous week and four-week average.
(Chip Flory)