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USDA export sales highlights for week ending May 23, 2024

Corn sales dipped slightly with strong buying from Mexico and Spain, while soybean transactions saw an uptick

Corn Growing In Row
Albrecht Fietz | Pixabay

The U.S. Department of Agriculture (USDA) released its latest Export Sales Highlights report, detailing agricultural export sales for the week ending May 23, 2024.

Wheat: Net sales reductions for 2023/2024 totaled 60,900 metric tons (MT), significantly down from previous weeks. Major reductions were noted for Indonesia (55,500 MT), Singapore (23,000 MT), unknown destinations (11,000 MT), and Mexico (7,900 MT). However, 2024/2025 net sales reached 381,700 MT, driven by unknown destinations (82,100 MT), Brazil (60,000 MT), and Indonesia (55,500 MT). Wheat exports were 354,000 MT, primarily to the Philippines (96,800 MT), Taiwan (85,700 MT), Japan (64,900 MT), Mexico (54,800 MT), and Venezuela (18,300 MT).

Corn: Net sales for 2023/2024 were 810,100 MT, down 11% from the previous week. Mexico (382,500 MT), Spain (165,000 MT), and Japan (125,800 MT) were the main buyers, while unknown destinations saw reductions (45,100 MT). Net sales for 2024/2025 were 187,800 MT, mainly to Mexico (185,200 MT). Exports totaled 1,044,400 MT, with major destinations being Mexico (374,500 MT), Japan (271,800 MT), and Colombia (115,500 MT).

Barley: No net sales reported for 2023/2024. Exports of 200 MT were sent to Japan.

Sorghum: Net sales for 2023/2024 were 61,600 MT, primarily to China. Exports totaled 47,900 MT, also to China.

Rice: Net sales for 2023/2024 reached 105,200 MT, with Panama (53,000 MT) and Mexico (39,700 MT) as top buyers. Exports were 56,200 MT, mainly to Japan (27,200 MT) and Haiti (21,200 MT).

Soybeans: Net sales for 2023/2024 were 329,400 MT, an 18% increase from the previous week. Key buyers included unknown destinations (147,800 MT) and China (71,100 MT). Exports were 208,400 MT, with China (79,300 MT) and Egypt (36,100 MT) being the largest destinations.

Soybean Cake and Meal: Net sales for 2023/2024 were 265,500 MT, up 83% from the previous week. Colombia (50,500 MT) and Vietnam (50,000 MT) were the top buyers. Exports totaled 250,800 MT, with Mexico (72,100 MT) and the Philippines (51,700 MT) as main destinations.

Soybean Oil: Net sales for 2023/2024 were 10,200 MT. Exports were 13,600 MT, with Mexico (12,100 MT) as the primary destination.

Cotton: Upland cotton net sales for 2023/2024 were 222,600 RB, up 10% from the previous week, mainly to China (191,900 RB). Exports totaled 172,200 RB, with China (52,500 RB) and Turkey (30,700 RB) as the leading importers.

Beef: Net sales for 2024 were 15,700 MT, a 27% decrease from the previous week. Major buyers included Japan (4,500 MT) and China (2,800 MT). Exports were 16,100 MT, primarily to South Korea (4,200 MT).

Pork: Net sales for 2024 were 44,400 MT, a 69% increase from the previous week. Mexico (23,200 MT) and Australia (6,100 MT) were the main buyers. Exports totaled 34,700 MT, with Mexico (14,600 MT) and Japan (4,100 MT) as top destinations.

This report reflects continued global demand and trade dynamics for U.S. agricultural products, with notable increases in pork and soybean sales, while wheat and sorghum saw significant reductions.

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