The U.S. Department of Agriculture's Foreign Agricultural Service has released its latest export sales highlights, showing varied trends across major agricultural commodities for the week ending July 11, 2024.
Wheat: Net sales of wheat for the 2024/2025 period reached 578,500 metric tons (MT), a noticeable increase from the previous week and up 1% from the prior four-week average. The primary buyers included South Korea (119,000 MT), Mexico (92,700 MT), China (72,300 MT), Indonesia (70,000 MT), and Italy (61,000 MT). However, these gains were slightly offset by reductions for unknown destinations (92,500 MT). Wheat exports for the week were 630,900 MT, up significantly from the previous week and 96% higher than the prior four-week average. Major destinations were Mexico, South Korea, Taiwan, China, and Peru.
Corn: Net sales of corn for 2023/2024 fell to 437,800 MT, down 19% from the previous week and 10% from the prior four-week average. Increases were noted for Japan (191,200 MT), Mexico (129,400 MT), Colombia (102,000 MT), Saudi Arabia (60,000 MT), and Portugal (55,000 MT). These gains were offset by reductions for unknown destinations (195,100 MT) and others. For the 2024/2025 period, net sales were 485,700 MT, mainly for unknown destinations (201,600 MT), Mexico (118,100 MT), and Colombia (62,500 MT). Corn exports totaled 1,103,800 MT, a 26% increase from the previous week, with Mexico, Japan, Taiwan, South Korea, and Colombia being the primary destinations.
Sorghum: Net sales of sorghum for 2023/2024 were 60,500 MT, a 46% decrease from the previous week but up 43% from the prior four-week average, all to China. For 2024/2025, net sales of 50,000 MT were also for China. Sorghum exports for the week were 60,500 MT, up 7% from the previous week, with all exports destined for China.
Rice: Net sales of rice for 2023/2024 were 83,500 MT, up significantly from both the previous week and the prior four-week average. South Korea, Turkey, Haiti, Mexico, and Canada were the primary buyers. For 2024/2025, net sales were 44,100 MT, mainly for Honduras, Haiti, Colombia, Nicaragua, and the Dominican Republic. Rice exports totaled 67,800 MT, down 6% from the previous week but up 14% from the prior four-week average, with South Korea, Haiti, Mexico, Honduras, and Canada as top destinations.
Soybeans: Net sales of soybeans for 2023/2024 reached 360,100 MT, a 73% increase from the previous week and 13% higher than the prior four-week average. The primary buyers included China, Egypt, Japan, South Korea, and unknown destinations. For 2024/2025, net sales were 375,000 MT, with significant purchases by unknown destinations, Mexico, Indonesia, China, and Panama. Soybean exports were 200,800 MT, down 25% from the previous week and 38% from the prior four-week average, with Mexico, Indonesia, South Korea, Japan, and Vietnam being the main destinations.
Cotton: Net sales of upland cotton for 2023/2024 were 27,200 running bales (RB), a marketing-year low, down 50% from the previous week and 76% from the prior four-week average. Increases were primarily for Vietnam, China, Pakistan, Turkey, and Nicaragua. For 2024/2025, net sales were 165,600 RB, mainly for China, Malaysia, Pakistan, India, and Turkey. Exports of 113,100 RB were down 30% from the previous week, primarily to China, Pakistan, Vietnam, Mexico, and Bangladesh.
Soybean products
- Soybean meal: Net sales of 209,300 MT for 2023/2024 were up noticeably from the previous week and 26% from the prior four-week average. Mexico, Venezuela, Colombia, Indonesia, and Sri Lanka were the primary buyers. Exports of 165,600 MT were down 39% from the previous week, with the Philippines, Mexico, Canada, Guatemala, and Panama as main destinations.
- Soybean oil: Net sales of 3,300 MT for 2023/2024 were down 66% from the previous week. Mexico was the main buyer. Exports totaled 6,500 MT, down 43% from the previous week, primarily to Mexico and Canada.
Beef and pork
- Beef: Net sales of 15,400 MT for 2024 were up 85% from the previous week. China, Mexico, Japan, South Korea, and Indonesia were the main buyers. Exports were 15,600 MT, up 9% from the previous week, with South Korea, Japan, China, Taiwan, and Mexico as top destinations.
- Pork: Net sales of 23,700 MT for 2024 were down 11% from the previous week. Mexico, Japan, China, Colombia, and South Korea were the primary buyers. Exports totaled 31,900 MT, down 2% from the previous week, with Mexico, Japan, China, South Korea, and Canada as main destinations.
The USDA's export sales highlights provide critical insights into the global agricultural market, reflecting the changing dynamics and demands of various commodities.
