U.S. agricultural exports showed divergent patterns last week, with current marketing year sales falling for major commodities while buyers secured significant volumes for future delivery, according to U.S. Export Sales data released today by the U.S. Department of Agriculture.
The weekly Export Sales Highlights report covering August 1-7 revealed substantial reductions in 2024/2025 sales for both corn and soybeans, with both commodities hitting marketing-year lows. However, strong bookings for the 2025/2026 marketing year indicate buyers are focusing on securing future supplies.
Corn sales for the current marketing year recorded net reductions of 88,700 metric tons (MT), a marketing-year low. Increases to Japan, Spain, and Venezuela were more than offset by reductions to unknown destinations, Canada, and Guatemala. However, new crop sales reached more than 2 million MT, primarily for Mexico, unknown destinations, and Japan.
“The contrast between current and future corn sales suggests buyers are shifting their focus to the upcoming harvest, which is expected to be a record,” said a market analyst familiar with the report.
Similarly, soybean sales for 2024/2025 saw reductions of 377,600 MT, another marketing-year low, while bookings for 2025/2026 delivery totaled over 1.1 million MT. Mexico and unknown destinations were the top buyers for future delivery.
Wheat sales bucked the trend, with net bookings of 722,800 MT for 2025/2026, down 2 percent from the previous week but 14 percent above the prior four-week average. South Korea, Mexico, and the Philippines were leading buyers.
Cotton sales remained solid with 242,000 running bales for 2025/2026, primarily for Vietnam, Bangladesh, and Turkey.
Livestock products showed mixed results, with beef recording a marketing-year low of 4,300 MT, down 73 percent from the previous week. Pork sales totaled 21,200 MT, down 32 percent week-over-week, with Japan, Mexico, and South Korea as top destinations.
The report also highlighted specific large sales, including three corn transactions totaling 336,680 MT to Mexico, Guatemala, and unknown destinations for 2025/2026 delivery.
