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USDA reports shifts in agricultural exports for mid-May

Wheat experienced a significant downturn with a 77% reduction in net sales, while corn sales rose by 23%.

Sorghum Field Ripe
Sabine | Pixabay

The U.S. Department of Agriculture's Foreign Agricultural Service has released its export sales highlights for the week of May 10-16, 2024, detailing the latest figures for various agricultural commodities.

Wheat: Net sales of 17,900 metric tons (MT) for 2023/2024 decreased by 77% from the previous week and 61% from the prior 4-week average. Primary buyers included Haiti (12,100 MT), unknown destinations (11,000 MT), and Vietnam (1,900 MT). Reductions were noted for the French West Indies (11,000 MT) and Colombia (1,100 MT). For 2024/2025, net sales of 224,900 MT were led by Mexico (129,300 MT) and Brazil (30,000 MT). Exports totaled 197,200 MT, down 56% from the previous week, with primary destinations being the Philippines (64,100 MT) and Thailand (58,500 MT).

Corn: Net sales of 911,200 MT for 2023/2024 increased by 23% from the previous week. Significant buyers included Mexico (350,300 MT), China (273,800 MT), and Japan (220,100 MT). For 2024/2025, net sales reached 305,000 MT, mainly to Mexico (286,000 MT). Exports rose to 1,448,600 MT, up 52%, with major destinations including Mexico (396,200 MT) and China (275,200 MT).

Barley: No net sales were reported for 2023/2024. Total net sales of 100 MT for 2024/2025 were for South Korea. Exports of 400 MT went to Japan.

Sorghum: Total net sales of 4,400 MT for 2023/2024 dropped by 63% from the previous week, destined for China. Exports of 127,000 MT were down 10%, primarily to China.

Rice: Net sales of 33,100 MT for 2023/2024 increased by 28% from the previous week. Main buyers were Mexico (23,400 MT) and Honduras (6,000 MT). Exports of 133,200 MT rose significantly, with key destinations including Mexico (59,800 MT) and Colombia (46,800 MT).

Soybeans: Net sales of 279,400 MT for 2023/2024 rose by 5% from the previous week. Major buyers were Japan (73,500 MT) and unknown destinations (70,700 MT). For 2024/2025, net sales totaled 65,500 MT, primarily to unknown destinations (60,000 MT). Exports of 258,800 MT hit a marketing-year low, down 42%, with primary destinations including Mexico (87,800 MT) and Japan (61,200 MT).

Soybean Cake and Meal: Net sales of 145,300 MT for 2023/2024 decreased by 52% from the previous week. Leading buyers were Venezuela (37,000 MT) and the Dominican Republic (24,800 MT). For 2024/2025, net sales reached 51,400 MT, mostly to Canada (41,900 MT). Exports of 178,800 MT were down 15%, mainly to Vietnam (52,500 MT) and Mexico (32,300 MT).

Soybean Oil: Net sales reductions of 1,000 MT for 2023/2024 were noted. Increases for Colombia (11,500 MT) were offset by reductions for Jamaica (15,000 MT). Exports of 20,600 MT, a marketing-year high, primarily went to Colombia (14,800 MT) and the Dominican Republic (3,500 MT).

Cotton: Net sales of Upland cotton totaling 202,900 RB for 2023/2024 were up 30% from the previous week. China (104,400 RB) and Pakistan (42,000 RB) were the top buyers. For 2024/2025, net sales reached 47,900 RB, mainly to China (13,200 RB). Exports of 204,100 RB decreased by 15%, primarily to China (84,600 RB) and Turkey (25,900 RB).

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