USDA’s latest export sales report, out Thursday morning and covering the week through February 5, showed a continued dominance of corn sales, which turned in another strong showing. Wheat sales were also solid, while soybean sales slumped to a new marketing-year low.
Corn exports hauled in 81.5 million bushels in old crop sales and 2.4 million bushels in new crop sales for a total tally of 83.8 million bushels. That was well above the range of trade guesses, which came in between 23.6 million and 47.2 million bushels. Cumulative sales for the 2025-26 marketing year are still trending 31% above last year’s pace after reaching 1.367 billion bushels.
Corn export shipments were up 32% week-over-week and 4% above the prior four-week average, with 59.5 million bushels. Mexico was the top destination, with 18.7 million bushels. Japan, South Korea, Taiwan and Nicaragua rounded out the top five.
Sorghum export sales shifted 25% below the prior four-week average, with 10.3 million bushels. Decreases to unknown destinations, Mexico and Japan were more than offset by increases to China. Cumulative sales for the 2025-26 marketing year are moderately above last year’s pace after reaching 60.2 million bushels.
Soybean exports only gathered 10.4 million bushels in combined old and new crop sales last week. Old crop sales plummeted 80% below the prior four-week average and landed on a new marketing-year low. Sales were also below the entire set of analyst estimates, which ranged between 11 million and 41.1 million bushels. Cumulative sales for the 2025-26 marketing year are 20% below last year’s pace after reaching 847.3 million bushels.
Soybean export shipments were more robust, with 41.5 million bushels, but that was still 20% below the prior four-week average. China was the No. 1 destination, with 27.4 million bushels. Egypt, the Netherlands, Mexico and Japan filled out the top five.
Wheat exports reached 18.4 million bushels in combined old and new crop sales last week. Old crop sales were 14% better than the prior four-week average. Total sales were toward the higher end of analyst estimates, which ranged between 7.3 million and 21.2 million bushels. Cumulative sales for the 2025-26 marketing year are tracking 17% above last year’s pace after reaching 628.3 million bushels.
Wheat export shipments climbed 59% above the prior four-week average, with 21.3 million bushels. The Philippines topped all destinations, with 6.6 million bushels. Bangladesh, Mexico, Japan and Spain rounded out the top five.
Click here for more highlights from today’s USDA export sales report.