The USDA says pork export sales were solid during the week ending October 3^rd. The pork sales total was up on the week and considerably larger than average, with Mexico purchasing more than half of the weekly total, reflecting the strong global demand for U.S. pork. Rice also saw a week-to-week improvement, while the other major commodities, including beef, corn, and soybeans declined. Export demand is influenced by several factors, including the relative value of the dollar, domestic commodity prices, and seasonal changes in supply.

Physical shipments of soybeans were above what’s needed to meet projections for the current marketing year. The 2024/25 marketing year got underway June 1^st for wheat, August 1^st for cotton and rice, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year. The USDA’s next round of supply and demand estimates is out Friday, October 11th at Noon Eastern/11 Central.

Wheat came out at 433,600 tons (15.9 million bushels), down 2% from the week ending September 26^th, but up 31% from the four-week average. Mexico purchased 101,400 tons and the Philippines bought 60,000 tons. At this point in the 2024/25 marketing year, wheat exports are 442.7 million bushels, compared to 370.8 million bushels in 2023/24. Sales of 5,500 tons (200,000 bushels) for 2025/26 delivery were to Peru.

Corn was reported at 1,222,100 tons (48.1 million bushels). Unknown destinations picked up 371,200 tons and Mexico purchased 329,700 tons. About a month into the marketing year, corn exports are 694.8 million bushels, compared to 602.1 million this time last year.

Sorghum sales of 5,500 tons (200,000 bushels) were to China. Sorghum exports are 26.3 million bushels, compared to 90.4 million a year ago. A net reduction of 1,000 tons for 2025/26 delivery followed a cancelation by Japan.

Rice sales of 61,000 tons were 70% higher than the previous week and 4% above the four-week average. Canada bought 27,000 tons and Saudi Arabia picked up 9,600 tons. Rice exports are 1,025,700 tons, compared to 826,100 last year.

Soybeans were pegged at 1,264,300 tons (46.5 million bushels). China purchased 583,400 tons and the Netherlands bought 207,300 tons, while unknown destinations canceled on 304,700 tons. So far, this marketing year, soybean exports are 739.9 million bushels, compared to 713.7 million a year ago. A net reduction of 8,400 tons (-300,000 bushels) for 2025/26 followed cancelations by Japan (8,300 tons) and Taiwan (100 tons).

New crop soybean meal sales were 165,700 tons. Colombia picked up 34,500 tons and unknown destinations purchased 34,400 tons. The USDA says 86,800 tons were carried over from the prior marketing year, putting 2024/25 bean meal exports at 4,917,400 tons, compared to 4,579,400 early in 2023/24. The 2023/24 total of 13,361,200 tons was up 7% from 2022/23. Net sales of 1,300 tons for 2025/26 delivery were to Canada.

New crop soybean oil sales were 3,800 tons. Venezuela bought 4,000 tons, while Canada canceled on 200 tons. The USDA says 300 tons were carried over from last marketing year, putting 2024/25 bean oil exports are 79,600 tons, compared to 17,200 just after the outset of 2023/24. The 2023/24 total of 261,600 tons was considerably larger than 2022/23.

Upland cotton was pegged at 89,600 bales, a decline of 7% from the week before and 12% from the four-week average. Vietnam picked up 56,600 bales and Mexico purchased 11,700 bales. For the marketing year to date, upland cotton exports are 5,144,500 bales, compared to 5,825,800 last year. Sales of 13,200 bales for 2025/26 delivery were to Turkey.

Net beef sales totaled 13,700 tons, falling 39% from the prior week and 8% from the four-week average. The reported buyers were China (4,200 tons), Japan (3,500 tons), South Korea (1,500 tons), Taiwan (1,200 tons), and Mexico (1,100 tons). Shipments of 16,000 tons were a decrease of 10% on the week, but an increase of 10% from the four-week average, mainly to South Korea (4,300 tons), Japan (3,500 tons), China (2,900 tons), Mexico (1,400 tons), and Taiwan (800 tons). Net sales of 300 tons for 2025 delivery were primarily to Canada (200 tons).

Net pork sales totaled 50,600 tons, 17% larger than the previous week and 56% greater than the four-week average. The listed purchasers were Mexico (27,200 tons), Japan (7,200 tons), South Korea (3,900 tons), Colombia (3,600 tons), and the Dominican Republic (1,800 tons), with a cancelation by Hong Kong (200 tons). Shipments of 22,800 tons were 12% less than the week before and 18% below the four-week average, mostly to Mexico (10,200 tons), Japan (4,200 tons), China (1,900 tons), Honduras (1,500 tons), and Canada (1,300 tons). Sales of 100 tons for 2025 delivery were to Australia.

Published Date: October 10, 2024