U.S. agricultural export sales saw notable increases across several commodities for the week ending September 26, 2024, according to the latest USDA Foreign Agricultural Service Export Sales Highlights report. Wheat, corn and soybean sales showed strong performance, while beef and pork sales also surged compared to previous weeks.
Wheat:
Net sales of 443,700 metric tons (MT) for 2024/2025 increased significantly from the previous week, up 46% from the four-week average. Key buyers included Japan (170,200 MT), Egypt (70,000 MT), and Thailand (63,000 MT). However, exports decreased by 25% from the previous week, with shipments totaling 531,700 MT primarily sent to the Philippines, South Korea, and Chile.
Corn:
Corn had an impressive week, with net sales of 1.68 million MT for 2024/2025. Mexico led the pack with 540,800 MT, followed by Colombia (339,100 MT) and Japan (244,000 MT). Exports totaled 1.17 million MT, with Mexico, Colombia, and Japan as the top destinations.
Soybeans:
Soybean sales reached 1.44 million MT for 2024/2025, largely driven by demand from China (725,700 MT), Bangladesh (166,000 MT), and the Netherlands (132,300 MT). Total exports stood at 724,600 MT, with China and the Netherlands being the primary destinations.
Meat Exports:
- Beef: Net sales jumped to 22,500 MT, up 68% from the four-week average. The largest buyers were South Korea, China, and Mexico. Exports of 17,700 MT marked a marketing-year high.
- Pork: Net sales of 43,400 MT represented a 61% increase from the prior four-week average, led by Mexico (24,000 MT) and China (7,900 MT). Exports totaled 25,900 MT, with Mexico and Japan being key destinations.
Other Commodities:
- Soybean oil: Net sales of 30,800 MT were primarily to South Korea and Colombia. Exports dropped to 2,600 MT, down 83% from the four-week average.
- Sorghum: Net sales of 48,000 MT for 2024/2025 were driven by demand from unknown destinations and Eritrea, while exports were mainly to China (145,000 MT).
- Hides and skins: Net sales rose 8% from the previous week, with China and Thailand as top buyers.
Market impact:
The increase in export sales for key commodities highlights strong international demand, particularly from Asia and Latin America. However, fluctuations in weekly exports indicate that logistical challenges and market dynamics remain key factors to watch as the marketing year progresses.
