USDA Weekly Export Sales Report Week Ended Aug. 1, 2024 | |
| Corn | |
| Actual Sales (in MT) | 2023-24: 485,400 |
| Expectations (in MT) | 2023-24: 100,000-400,000 |
| Actual Sales (in MT) | 2024-25: 249,100 |
| Expectations (in MT) | 2024-25: 475,000-1,000,000 |
| Weekly Sales Details | Net sales of 485,400 MT for 2023/2024 were up noticeably from the previous week and up 32 percent from the prior 4-week average. Increases primarily for Mexico (309,400 MT, including decreases of 17,200 MT), Spain (143,300 MT), Colombia (48,700 MT, including decreases of 40,900 MT), Japan (40,100 MT, including 91,000 MT switched from unknown destinations and decreases of 10,600 MT), and Malaysia (16,100 MT), were offset by reductions for unknown destinations (89,200 MT), El Salvador (15,000 MT), Honduras (4,400 MT), the Dominican Republic (4,000 MT), and Panama (100 MT). Net sales of 249,100 MT for 2024/2025 primarily for unknown destinations (127,100 MT), Panama (99,100 MT), Colombia (55,000 MT), Honduras (26,300 MT), and Nicaragua (13,900 MT), were offset by reductions for Mexico (68,000 MT), the Dominican Republic (24,500 MT), and Costa Rica (2,400 MT). |
| Weekly Export Details | Exports of 1,303,300 MT were up 26 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Japan (469,800 MT), Mexico (320,500 MT), Colombia (202,400 MT), Spain (117,300 MT), and Honduras (57,200 MT). |
| Comments and Performance Indicators | Export commitments are 38.2% ahead of a year-ago, compared to 37.5% ahead last week. USDA projects exports in 2023-24 at 2.225 billion bu., 33.9% above the previous marketing year. |
| Wheat | |
| Actual Sales (in MT) | 2023-24: 274,000 |
| Expectations (in MT) | 2023-24: 250,000-500,000 |
| Weekly Sales Details | Net sales of 274,000 metric tons (MT) for 2024/2025 were down 4 percent from the previous week and 23 percent from the prior 4-week average. Increases primarily for Taiwan (105,700 MT), Japan (63,100 MT), Ecuador (55,200 MT, including 32,000 MT switched from unknown destinations and 3,000 MT switched from Barbados), Mexico (28,800 MT, including decreases of 1,600 MT), and Italy (23,000 MT, including 20,000 MT switched from unknown destinations and decreases of 300 MT), were offset by reductions primarily for the Philippines (62,000 MT), Thailand (21,000 MT), and Barbados (3,000 MT). Net sales of 112,000 MT for 2025/2026 were reported for the Philippines (90,000 MT) and Thailand (22,000 MT). |
| Weekly Export Details | Exports of 496,600 MT were up 9 percent from the previous week and 20 percent from the prior 4-week average. The destinations were primarily to Mexico (80,900 MT), Italy (78,000 MT), Panama (61,900 MT), Ecuador (57,900 MT), and Yemen (53,200 MT). |
| Comments and Performance Indicators | Export commitments are 33,4% ahead of year-ago, compared to 42.3% ahead last week. USDA projects exports in 2024-25 exports are projected at 825 million bu. |
| Soybeans | |
| Actual Sales (in MT) | 2023-24: 325,400 |
| Expectations (in MT) | 2023-24: 100,000-300,000 |
| Actual Sales (in MT) | 2024-25: 985,200 |
| Expectations (in MT) | 2024-25: 400,000-900,000 |
| Weekly Sales Details | Net sales of 325,400 MT for 2023/2024 were up 2 percent from the previous week and 66 percent from the prior 4-week average. Increases primarily for China (134,500 MT), Indonesia (81,100 MT, including 56,700 MT switched from unknown destinations and decreases of 600 MT), Germany (57,100 MT), Italy (55,000 MT), and Portugal (45,000 MT), were offset by reductions for unknown destinations (67,400 MT), Egypt (62,000 MT), Mexico (18,100 MT), Japan (6,200 MT), and Colombia (5,500 MT). Net sales of 985,200 MT for 2024/2025 were primarily for China (400,000 MT), unknown destinations (245,200 MT), Egypt (62,000 MT), Turkey (55,000 MT), and Portugal (45,000 MT). |
| Weekly Export Details | Exports of 352,000 MT were down 31 percent from the previous week, but up 9 percent from the prior 4-week average. The destinations were primarily to Mexico (87,400 MT), Indonesia (84,800 MT), Germany (57,100 MT), Japan (54,200 MT), and Taiwan (16,900 MT). |
| Comments and Performance Indicators | Export commitments are running 13.8% behind a year-ago, compared to 13.7% behind last week. USDA projects exports in 2023-24 at 1.700 billion bu., down 14.1% from the previous marketing year. |
| Soymeal | |
| Actual Sales (in MT) | 2023-24: 102,300 |
| Expectations | 2023-24: 0-300,000 |
| Actual Sales (in MT) | 2024-25: 256,500 |
| Expectations | 2024-25: 100,000-350,000 |
| Weekly Sales Details | Net sales of 102,300 MT for 2023/2024 were up noticeably from the previous week, but down 27 percent from the prior 4-week average. Increases primarily for unknown destinations (29,800 MT), the Dominican Republic (17,900 MT), Mexico (11,100 MT, including decreases of 4,700 MT), Colombia (9,500 MT, including decreases of 22,000 MT), and Nicaragua (7,500 MT, including 6,000 MT switched from Colombia, 600 MT switched from Costa Rica, and 200 MT switched from El Salvador), were offset by reductions for El Salvador (6,000 MT), Japan (1,100 MT), Belgium (1,000 MT), and Costa Rica (500 MT). Net sales of 256,500 MT for 2024/2025 were primarily for unknown destinations (101,000 MT), Mexico (54,300 MT), Panama (32,600 MT), Morocco (24,000 MT), and Canada (13,800 MT). |
| Weekly Export Details | Exports of 285,200 MT were up 31 percent from the previous week and 36 percent from the prior 4-week average. The destinations were primarily to Colombia (58,900 MT), the Philippines (53,300 MT), Ecuador (30,400 MT), Venezuela (26,900 MT, including 20,500 MT - late), and Honduras (26,400 MT). |
| Comments and Performance Indicators | Export commitments are 9.6% ahead of a year-ago, compared to 10.0% ahead last week. USDA projects exports in 2023-24 will increase 10.0% from the previous marketing year in 2022-23. |
| Soyoil | |
| Actual Sales (in MT) | 2023-24: 10,900 |
| Expectations | 2023-24: 0-10,000 |
| Actual Sales (in MT) | 2024-25: (8,200) |
| Expectations | 2024-25: 0-10,000 |
| Weekly Sales Details | Net sales of 10,900 MT for 2023/2024 were up noticeably from the previous week and from the prior 4-week average. Increases primarily for Mexico (9,500 MT), were offset by reductions for Canada (100 MT). Net sales reductions of 8,200 MT for 2024/2025 were reported for Mexico (7,900 MT) and the Dominican Republic (300 MT). |
| Weekly Export Details | Exports of 9,800 MT were up 11 percent from the previous week and 3 percent from the prior 4-week average. The destinations were primarily to Mexico (9,600 MT). |
| Comments and Performance Indicators | Export commitments are running 72.7% ahead of a year-ago, compared 63.3% ahead last week. USDA projects exports will increase 45.5% in 2023-24. |
| Cotton | |
| Actual Upland Sales (in RB) | 2024-25: (949,600) |
| Weekly Sales Details | Net sales reductions of Upland totaling 949,600 RB for 2024/2025 marketing year, which began August 1, resulted in increases primarily for India (43,600 RB, including decreases of 8,800 RB), Mexico (40,400 RB, including decreases of 900 RB), Costa Rica (25,900 RB), Turkey (15,100 RB, including decreases of 800 RB), and Guatemala (5,000 RB), were more than offset by reductions primarily for China (603,200 RB), Pakistan (372,200 RB), and Vietnam (111,800 RB). A total of 979,900 RB in sales were carried over from the 2023/2024 marketing year, which ended July 31. Net sales of 11,500 RB for 2025/2026 were for Mexico (4,700 RB), Costa Rica (3,500 RB), El Salvador (2,000 RB), and Japan (1,300 RB). |
| Weekly Export Details | Exports for the period ending July 31 of 738,100 RB brought accumulated exports to 11,070,400 RB, down 6 percent from the prior years’ total of 11,777,500 RB. The destinations were primarily to China (273,400 RB, including 245,300 RB - late), Vietnam (121,900 RB, including 94,500 RB - late), Pakistan (102,300 RB, including 93,700 RB - late), Bangladesh (52,700 RB, including 40,500 RB - late), and Mexico (41,500 RB, including 33,000 RB - late). Exports for August 1 of 21,600 RB were primarily to China (4,600 RB), Pakistan (3,900 RB), Peru (3,400 RB), Costa Rica (2,700 RB), and Honduras (2,100 RB). Net sales of Pima totaling 7,700 RB for 2024/2025, were primarily for Vietnam (2,200 RB), India (2,100 RB, including decreases of 500 RB), China (1,600 RB, including decreases of 200 RB), Pakistan (1,100 RB, including decreases of 400 RB), and Egypt (400 RB). A total of 29,100 RB in sales were carried over from the 2023/2024 marketing year, which ended July 31. Exports for the period ending July 31 of 1,700 RB brought accumulated exports to 321,800 RB, up 6 percent from the prior years’ total of 305,000 RB. The destinations were to India (1,400 RB), Turkey (100 RB), Thailand (100 RB), and Taiwan (100 RB). Exports for August 1 of 1,700 RB were primarily to Peru (800 RB) and China (400 RB). |
| Comments and Performance Indicators | Upland cotton export commitments are running 17% behind a year ago. USDA forecasts total cotton exports will rise 12% from a year ago to 13.0 million bales in 2024-25. |
| Beef | |
| Actual Sales (in MT) | 2024: 10,000 |
| Weekly Sales Details | Net sales of 10,000 MT for 2024 were down 43 percent from the previous week and 27 percent from the prior 4-week average. Increases were primarily for South Korea (3,900 MT, including decreases of 200 MT), Japan (1,900 MT, including decreases of 400 MT), Mexico (1,200 MT, including decreases of 100 MT), China (700 MT, including decreases of 100 MT), and Canada (600 MT, including decreases of 100 MT). |
| Weekly Export Details | Exports of 15,400 MT were down 5 percent from the previous week and 2 percent from the prior 4- week average. The destinations were primarily to Japan (4,000 MT), South Korea (3,400 MT), China (2,700 MT), Mexico (1,600 MT), and Taiwan (1,200 MT). |
| Comments and Performance Indicators | USDA projects 2024 exports will fall 4.3% from a year ago. |
| Pork | |
| Actual Sales (in MT) | 2024: 34,600 |
| Weekly Sales Details | Net sales of 34,600 MT for 2024 were up 10 percent from the previous week and 24 percent from the prior 4-week average. Increases were primarily for Mexico (14,800 MT, including decreases of 400 MT), China (7,400 MT), Japan (2,900 MT, including decreases of 400 MT), Colombia (2,500 MT, including decreases of 100 MT), and Canada (1,700 MT, including decreases of 600 MT). Total net sales of 200 MT for 2025 were for New Zealand. |
| Weekly Export Details | Exports of 33,200 MT were up 10 percent from the previous week and 4 percent from the prior 4-week average. The destinations were primarily to Mexico (14,400 MT), Japan (4,700 MT), China (3,100 MT), South Korea (2,700 MT), and Colombia (2,500 MT). |
| Comments and Performance Indicators | USDA projects exports in 2024 will rise 6.2% from last year. |
Weekly soybean sales prove solid; new-crop corn sales slide
Old- and new-crop soybean sales during the week ended Aug. 1 each surpassed analysts’ pre-report expectations, while new-crop corn were notably short.
(Chip Flory)