| USDA Weekly Export Sales Report Week Ended Jan. 23, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2024-25: 1,358,500 |
| Expectations (in MT) | 2024-25: 850,000-1,800,000 |
| Weekly Sales Details | Net sales of 1,358,500 MT for 2024/2025 were down 18 percent from the previous week, but up 39 percent from the prior 4-week average. Increases primarily for Japan (493,100 MT, including 181,500 MT switched from unknown destinations and decreases of 1,300 MT), Mexico (426,900 MT, including 55,000 MT switched from unknown destinations and decreases of 2,700 MT), Spain (140,700 MT, including 63,000 MT switched from unknown destinations and 71,500 MT - late), South Korea (136,800 MT, including 130,000 MT switched from unknown destinations), and Colombia (129,200 MT, including 90,000 MT switched from unknown destinations and decreases of 1,800 MT), were offset by reductions for unknown destinations (482,500 MT) and Morocco (1,700 MT). Total net sales of 45,800 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 1,320,200 MT were down 13 percent from the previous week, but up 9 percent from the prior 4-week average. The destinations were primarily to Japan (335,700 MT), Mexico (314,700 MT), South Korea (141,800 MT), Spain (140,700 MT), and Colombia (122,200 MT). |
| Comments and Performance Indicators | Export commitments are 28.5% ahead of a year-ago, compared to 29.1% 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: 456,100 |
| Expectations (in MT) | 2024-25: 150,000-500,000 |
| Weekly Sales Details | Net sales of 456,100 metric tons (MT) for 2024/2025 were up noticeably from the previous week and up 96 percent from the prior 4-week average. Increases primarily for the Philippines (86,200 MT), unknown destinations (85,300 MT), South Korea (70,500 MT, including decreases of 2,100 MT), Mexico (52,800 MT, including decreases of 200 MT), and Vietnam (51,000 MT, including decreases of 1,000 MT), were offset by reductions for the Dominican Republic (3,600 MT), Peru (500 MT), and Canada (200 MT). Net sales of 24,200 MT for 2025/2026 were reported for Peru (15,500 MT) and El Salvador (8,700 MT). |
| Weekly Export Details | Exports of 588,900 MT were up noticeably from the previous week and up 97 percent from the prior 4-week average. The destinations were primarily to South Korea (163,200 MT), Japan (143,900 MT), Thailand (84,600 MT), Mexico (78,600 MT), and the Philippines (58,200 MT). |
| Comments and Performance Indicators | Export commitments are 7.5% ahead of year-ago, compared to 6.9% 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: 438,000 |
| Expectations (in MT) | 2024-25: 450,000-1,700,000 |
| Weekly Sales Details | Net sales of 438,000 MT for 2024/2025 were down 71 percent from the previous week and 33 percent from the prior 4-week average. Increases primarily for China (145,300 MT, including decreases of 600 MT), Spain (66,300 MT, including 66,000 MT switched from China), the United Kingdom (66,000 MT, including 60,000 MT switched from unknown destinations), the Netherlands (56,600 MT, including 60,000 MT switched from unknown destinations and decreases of 3,400 MT), and Turkey (55,200 MT, including 55,000 MT switched from unknown destinations and decreases of 1,300 MT), were offset by reductions for unknown destinations (124,300 MT), South Korea (11,400 MT), and Algeria (900 MT). Total net sales of 4,500 MT for 2025/2026 were for Japan. |
| Weekly Export Details | Exports of 736,200 MT were down 29 percent from the previous week and 47 percent from the prior 4-week average. The destinations were primarily to China (150,600 MT), Turkey (119,200 MT), Mexico (97,000 MT), Spain (66,300 MT), and the United Kingdom (66,000 MT). |
| Comments and Performance Indicators | Export commitments are running 12.0% ahead of a year-ago, compared to 11.5% 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: 410,300 |
| Expectations | 2024-25: 100,000-400,000 |
| Weekly Sales Details | Net sales of 410,300 MT for 2024/2025 were up 97 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for the Philippines (140,500 MT), unknown destinations (106,900 MT), Mexico (50,100 MT), Honduras (29,400 MT), and Venezuela (20,000 MT), were offset by reductions for Nicaragua (100 MT). |
| Weekly Export Details | Exports of 151,000 MT were down 13 percent from the previous week and 40 percent from the prior 4-week average. The destinations were primarily to the Philippines (42,700 MT), Mexico (32,000 MT), Colombia (29,200 MT), Canada (17,800 MT), and Trinidad and Tobago (6,400 MT). |
| Comments and Performance Indicators | Export commitments are 11.0% 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: 12,500 |
| Expectations (in MT) | 2024-25: 4,000-20,000 |
| Weekly Sales Details | Net sales of 12,500 MT for 2024/2025 were up noticeably from the previous week, but down 63 percent from the prior 4-week average. Increases primarily for Mexico (4,300 MT), Guatemala (4,000 MT), Honduras (2,800 MT), South Korea (1,000 MT switched from unknown destinations), and Canada (1,000 MT), were offset by reductions for unknown destinations (1,000 MT), Venezuela (500 MT), and the Dominican Republic (100 MT). |
| Weekly Export Details | Exports of 103,600 MT--a marketing-year high--were up noticeably from the previous week and from the prior 4-week average. The destinations were primarily to India (48,500 MT), South Korea (35,000 MT), Colombia (10,000 MT), Mexico (5,100 MT), and the Dominican Republic (4,400 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: 280,000 |
| Weekly Sales Details | Net sales of Upland totaling 280,000 RB for 2024/2025 were down 20 percent from the previous week, but up 20 percent from the prior 4-week average. Increases were primarily for Vietnam (86,000 RB), Turkey (76,300 RB), Pakistan (49,800 RB), Bangladesh (22,900 RB), and Costa Rica (13,200 RB). Net sales of 38,600 RB for 2025/2026 were reported for Malaysia (26,400 RB), Costa Rica (11,000 RB), and Japan (1,200 RB). |
| Weekly Export Details | Exports of 153,500 RB were down 31 percent from the previous week and 19 percent from the prior 4-week average. The destinations were primarily to Pakistan (38,700 RB), Vietnam (30,500 RB), China (23,400 RB), Mexico (10,200 RB), and Turkey (9,400 RB). Net sales of Pima totaling 7,200 RB for 2024/2025 were up 18 percent from the previous week and 69 percent from the prior 4-week average. Increases primarily for Peru (2,300 RB), Hong Kong (2,200 RB), India (1,200 RB), Egypt (900 RB), and Turkey (400 RB), were offset by reductions for Italy (300 RB). Exports of 7,900 RB were up noticeably from the previous week and up 20 percent from the prior 4-week average. The destinations were primarily to Peru (3,200 RB), India (2,300 RB), China (1,100 RB), Turkey (500 RB), and Pakistan (400 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 11.2% behind a year ago, compared to 11.5% 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: 20,200 |
| Weekly Sales Details | Net sales of 20,200 MT for 2025 were primarily for South Korea (11,300 MT, including decreases of 300 MT), Japan (3,800 MT, including decreases of 200 MT), Mexico (2,100 MT, including decreases of 100 MT), China (700 MT), and Canada (700 MT). |
| Weekly Export Details | Exports of 21,500 MT were primarily to South Korea (3,400 MT), Japan (2,700 MT), the Dominican Republic (1,900 MT), Mexico (1,800 MT), and China (1,800 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 2.6% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 33,600 |
| Weekly Sales Details | Net sales of 33,600 MT for 2025 primarily for Mexico (11,800 MT, including decreases of 200 MT), China (11,200 MT, including decreases of 100 MT), South Korea (3,700 MT, including decreases of 100 MT), Japan (2,500 MT), and Colombia (1,100 MT, including decreases of 200 MT), were offset by reductions for Hong Kong (400 MT). |
| Weekly Export Details | Exports of 34,100 MT were primarily to Mexico (12,700 MT), the Bahamas (4,700 MT), South Korea (3,300 MT), Japan (2,700 MT), and China (2,600 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 4.2% from last year. |
Weekly soybean sales notch hefty decline
Soybean sales during the week ended Jan. 23 were down 71% from the previous week, missing analysts’ pre-report range. Corn and wheat sales were as expected
(Chip Flory)