The USDA reports that beef export sales reached a marketing year high during the week ending August 8. This increase was driven primarily by South Korea, followed by Japan and China. Meanwhile, pork exports fell to a marketing year low as several buyers reduced their weekly purchases. Old crop corn also hit a marketing year low, which is typical towards the end of the marketing year as buyers shift from older crops to new crops, often at lower prices. In contrast, new crop soybean export sales remained strong, particularly to China and other unspecified destinations, due to a recent demand surge following a price drop. Physical shipments of corn and wheat exceeded USDA projections for the current marketing years. The 2024/25 marketing year for wheat began on June 1, while cotton and rice started on August 1. The 2023/24 marketing year began on September 1 for corn, sorghum, and soybeans, and on October 1 for soybean products. Beef and pork marketing years align with the calendar year.
Wheat exports totaled 399,900 tons (12.5 million bushels), a 24% increase from the week ending August 1 but a 6% decrease from the four-week average. Mexico purchased 126,000 tons and Yemen bought 50,000 tons, though unknown destinations canceled 76,600 tons. Wheat exports for the 2024/25 marketing year have reached 328.1 million bushels, up from 248.7 million in 2023/24. A net reduction of 66,800 tons occurred after a sale to South Korea was offset by cancellations from the Philippines and Thailand. Corn exports were reported at 120,500 tons (4.7 million bushels), marking a 75% decrease from the previous week and a 66% decrease from the four-week average. Colombia purchased 173,900 tons and Portugal bought 51,000 tons, while unknown destinations canceled 163,500 tons. For the 2023/24 marketing year, corn exports total 2.197 billion bushels, compared to 1.596 billion in the previous year. Sales for 2024/25 delivery were mainly to unknown destinations and Mexico.
Sorghum sales were 3,700 tons (100,000 bushels), a 93% decline from the prior week and a 95% decrease from the four-week average, all to China. Sorghum exports are currently 230.4 million bushels, compared to 111.6 million at the same time last year. Rice sales amounted to 68,000 tons. Iraq bought 40,000 tons and El Salvador purchased 12,500 tons. Rice exports for the current marketing year are 646,000 tons, compared to 443,400 a year ago.
Soybean exports totaled 221,700 tons (8.1 million bushels), a 32% decrease from the previous week and a 1% drop from the four-week average. The Netherlands purchased 84,900 tons and Germany bought 67,300 tons, while China canceled 38,000 tons. Year-to-date soybean exports are 1.688 billion bushels, down from 1.949 billion last year. Sales for 2024/25 delivery were primarily to China and other unspecified destinations.
Soybean meal exports were 113,700 tons, up 11% from the previous week but down 26% from the four-week average. The Philippines purchased 46,900 tons and Honduras bought 15,000 tons. Cumulative soybean meal exports are 13.85 million tons, compared to 12.66 million last year. Sales for 2024/25 delivery were mostly to Colombia and Canada. Soybean oil exports totaled 700 tons, a 93% decrease from the previous week and an 86% drop from the four-week average. Mexico bought 600 tons and Honduras picked up 100 tons. Cumulative soybean oil exports are 220,700 tons, compared to 128,000 last year.
Upland cotton exports were reported at 110,900 bales. Pakistan purchased 47,200 bales and India bought 13,000 bales. Upland cotton exports for 2024/25 total 4.21 million bales, compared to 5.13 million in the previous year. Sales of 400 bales for 2025/26 delivery were made to Mexico. Net beef sales totaled 28,100 tons, a substantial increase from the previous week and 99% above the four-week average. Key buyers included South Korea, Japan, China, Taiwan, and Mexico. Shipments of 14,100 tons were 8% lower than the prior week and 11% below the four-week average, mainly to South Korea, Japan, China, Mexico, and Taiwan.
Net pork sales reached 20,900 tons, a 40% decline from the previous week and 30% below the four-week average. The primary purchasers were Japan, Mexico, South Korea, Canada, and Australia. Shipments of 28,800 tons were 13% lower than the previous week and 10% below the four-week average, primarily to Mexico, Japan, China, Colombia, and Canada. Sales for 2025 delivery were mainly to Australia.
Discover the latest in supply chain logistics news on The Supply Chain Report. Free international trade tools are available at ADAMftd.com.
#SupplyChainNews #SupplyChainNews #AgricultureNews #ExportTrends #MarketUpdate
