US soybean exports reached a marketing-year high of 2.53 million metric tons during the week of October 23-29, with China purchasing more than 60 percent of the total volume at 1.59 million metric tons, according to the US Department of Agriculture.
- US soybean exports climbed to 2.53 million metric tons for the week of Oct. 23-29, marking a marketing-year high
- China purchased 1.59 million metric tons, representing over 60% of total weekly shipments
- Weekly exports increased 6% from the previous week and 46% from the four-week average
- New soybean sales for 2026-27 totaled 1.46 million metric tons, down 44% from the previous week, indicating slowing new bookings
- Other major buyers include Egypt (187,500 MT), Spain (133,700 MT), Mexico (91,300 MT), and Pakistan (60,600 MT)
U.S. soybean exports climbed to a marketing-year high of 2.53 million metric tons during the week of Oct. 23-29, with China taking more than 60% of the volume, according to the U.S. Department of Agriculture.
The weekly export sales report from the Foreign Agricultural Service (FAS), released Thursday, showed soybean shipments up 6% from the previous week and 46% from the prior four-week average. China received 1.59 million metric tons, followed by Egypt at 187,500 metric tons, Spain at 133,700 metric tons, Mexico at 91,300 metric tons and Pakistan at 60,600 metric tons.
New buying slowed even as shipments peaked. Net soybean sales for 2026-27 totaled 1.46 million metric tons, down 44% from the previous week and 11% from the four-week average. China accounted for 873,900 metric tons of that total, including 442,000 metric tons switched from unknown destinations, while Algeria booked 132,000 metric tons and Turkey 115,000 metric tons. FAS also reported a separate daily sale of 417,150 metric tons of soybeans to unknown destinations for 2026-27.
The gap between the two numbers is the story of the week. Exports measure physical shipments, while net sales measure new bookings minus cancellations, so the peak shipments reflect beans sold earlier in the fall now moving through the export system. The large volume switched to China from unknown destinations also means more previously booked cargoes now have a named buyer.
Corn shipments also picked up, with exporters moved 1.03 million metric tons, up 86% from the previous week but down 4% from the four-week average, with Mexico taking 628,200 metric tons and Colombia 103,900 metric tons. Net corn sales of 1.29 million metric tons were down 1% from the previous week but up 10% from the four-week average, led by Mexico, unknown destinations, Colombia and Japan.
Wheat went the other way. Exports fell to 149,200 metric tons, a marketing-year low, down 44% from the previous week and 43% from the four-week average. Net sales of 538,000 metric tons were down 37% from the previous week but up 16% from the four-week average, with buyers in the Philippines, South Korea, Indonesia and Thailand leading the gains.
Demand for U.S. soybean meal strengthened. Net sales of 390,400 metric tons were up 12% from the previous week and 63% from the four-week average, led by Vietnam at 100,600 metric tons and Mexico at 52,500 metric tons. Meal exports of 244,800 metric tons were down 40% from the previous week and unchanged from the four-week average.
Soybean oil remained a minor export item, with net sales of 1,500 metric tons and shipments of 2,700 metric tons, mostly to Canada.
The next weekly export sales report is scheduled for Nov. 13, a Friday release, according to the FAS release calendar.
