The U.S. Department of Agriculture Foreign Agricultural Service's export sales report for the week of August 30 to September 5, 2024, highlight a significant increase in demand for U.S. wheat, corn, and soybeans, driven by key international markets like Mexico, China, and Japan.
Wheat sales surge
Net sales of wheat for the 2024/2025 marketing year reached 474,900 metric tons (MT), a 40% increase from the previous week. Key buyers included Taiwan (105,400 MT), the Philippines (98,900 MT), and South Korea (91,200 MT). Despite this increase, exports were slightly down, totaling 542,200 MT, with shipments primarily headed to the Philippines (103,900 MT), Mexico (98,600 MT), and Taiwan (89,100 MT).
Corn exports strong despite market changes
Corn sales for the 2024/2025 marketing year, which began on September 1, reached 666,500 MT, with Mexico leading the purchases at 180,300 MT. Sales were also strong to unknown destinations (167,900 MT) and Japan (81,200 MT). A total of 1.45 million MT of corn sales were carried over from the previous marketing year, with accumulated exports totaling over 54 million MT, marking a 38% increase from last year. Spain, Portugal, and Mexico were the primary destinations.
Soybean demand grows
Soybean net sales reached 1.47 million MT for the 2024/2025 marketing year, primarily driven by China (962,600 MT) and unknown destinations (127,500 MT). Exports for the period ending August 31 totaled 149,300 MT, with Germany, Algeria, and Mexico as top destinations. An additional 314,200 MT of soybeans were exported on September 1, primarily to Indonesia, Mexico, and China.
Other highlights
- Sorghum: China remained the primary buyer of U.S. sorghum, with 71,900 MT in sales.
- Rice: Net sales of 61,900 MT were primarily driven by Japan (28,000 MT) and Haiti (21,600 MT).
- Pork: Net sales of 29,700 MT were up 43% from the previous week, led by Mexico and Japan.
- Beef: Beef exports fell 21% from the previous week, with South Korea, Japan, and China as the primary destinations.
The strong demand across various commodities reflects the continued global reliance on U.S. agricultural products, particularly as international markets seek to meet growing food and feed needs.
