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US wheat and rice exports surge, while soybean sales plummet

Wheat sales jump 96% above average, rice up significantly; soybean exports fall 71% week-over-week.

In Rice Field Pixabay

The U.S. Department of Agriculture's Export Sales Report for the week ending January 23, 2025, reveals significant shifts in agricultural commodity exports, with wheat and rice showing remarkable gains while soybean sales declined sharply.

Key highlights from the report include:

  1. Wheat exports soar:

    • Net sales reached 456,100 metric tons (MT) for 2024/2025, a 96% increase from the prior 4-week average.
    • Exports surged to 588,900 MT, up 97% from the prior 4-week average.
    • Top buyers: Philippines (86,200 MT), South Korea (70,500 MT), and Mexico (52,800 MT).
    • Notable increase: Vietnam purchased 51,000 MT, indicating growing demand in Southeast Asia.
  2. Rice sales surge:

    • Net sales hit 104,400 MT for 2024/2025, more than doubling the previous week's figures.
    • Key destinations: Senegal (35,000 MT), Japan (27,600 MT), and Haiti (22,300 MT).
    • Exports increased 24% week-over-week to 51,700 MT, with Mexico being the primary destination (29,800 MT).
  3. Soybean sales decline sharply:

    • Net sales fell to 438,000 MT for 2024/2025, down 71% from the previous week and 33% from the prior 4-week average.
    • China remained the largest buyer at 145,300 MT, but this represents a significant decrease from recent weeks.
    • Notable shifts: Spain (66,300 MT) and the United Kingdom (66,000 MT) emerged as major buyers, partially offsetting reductions for unknown destinations (124,300 MT).
  4. Corn exports remain strong despite slight dip:

    • Net sales reached 1,358,500 MT for 2024/2025, down 18% week-over-week but up 39% from the prior 4-week average.
    • Japan led purchases with 493,100 MT, followed by Mexico (426,900 MT) and Spain (140,700 MT).
    • Late reporting added 71,501 MT of sales to Spain, highlighting continued strong demand from European markets.
  5. Cotton exports show mixed results:

    • Upland cotton net sales totaled 280,000 running bales (RB) for 2024/2025, down 20% week-over-week but up 20% from the prior 4-week average.
    • Vietnam (86,000 RB), Turkey (76,300 RB), and Pakistan (49,800 RB) were the top buyers.
    • Pima cotton sales increased 18% week-over-week to 7,200 RB, with Peru, Hong Kong, and India as primary destinations.
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