The U.S. Department of Agriculture's Foreign Agricultural Service has released its latest export sales report for the period of November 1-7, 2024, revealing a mixed performance across various agricultural commodities. The report highlights significant changes in export sales and shipments for key products such as wheat, corn, soybeans and meat.
Key highlights from the report include:
Wheat: Net sales of 380,100 metric tons (MT) for the 2024/2025 marketing year were up 1% from the previous week but down 17% from the prior 4-week average. Major buyers included South Korea, Japan, and the Philippines.
Corn: Net sales of 1,315,100 MT for 2024/2025 saw a substantial decrease, down 53% from the previous week and 52% from the prior 4-week average. Unknown destinations, Mexico, and South Korea were the top buyers.
Sorghum: A marketing-year high was recorded with net sales of 141,300 MT for 2024/2025, showing significant increases from both the previous week and the prior 4-week average. China and unknown destinations were the primary purchasers.
Soybeans: Net sales of 1,555,400 MT for 2024/2025 decreased by 24% from both the previous week and the prior 4-week average. China remained the largest buyer, followed by Egypt and Spain.
Beef: Net sales of 14,200 MT for 2024 showed a strong increase, up 78% from the previous week and 8% from the prior 4-week average. Japan, South Korea, and Mexico were the top markets.
Pork: Net sales of 19,800 MT for 2024 were down noticeably from the previous week and 12% from the prior 4-week average. Mexico, Japan, and Colombia were the primary destinations.
The report also noted significant export activities for other commodities such as rice, cotton, and hides and skins. These fluctuations in export sales reflect the dynamic nature of global agricultural markets and the varying demand from international buyers.
This data provides valuable insights for farmers, traders, and policymakers, offering a snapshot of the current state of U.S. agricultural exports and potential trends for the coming months. As the 2024/2025 marketing year progresses, these figures will play a crucial role in shaping agricultural strategies and market expectations.
