USDA’s latest export sales report, out Friday morning and covering the week through May 21, didn’t have a lot of bullish data points for traders to digest, leaving grain prices narrowly mixed following its release. Corn exports remained relatively solid despite a big week-over-week decline for old crop sales. Old crop soybean sales faded 15% lower week-over-week. Old crop wheat sales fell to a marketing-year low, although that is hardly a surprise, given the 2025-26 marketing year is quickly drawing to a close.
Corn exports found 40.0 million bushels in old crop sales and an additional 24.4 million bushels in new crop sales for a total tally of 64.4 million bushels. Old crop sales shifted 30% below the prior four-week average, but total sales were toward the higher end of analyst estimates, which ranged between 33.5 million and 78.8 million bushels. Cumulative sales for the 2025-26 marketing year are 26% above last year’s pace so far after reaching 3.184 billion bushels.
Corn export shipments were up 12% from the prior week but 5% below the prior four-week average, with 63.5 million bushels. Mexico, South Korea, Colombia, Japan and Taiwan were the top five destinations.
Sorghum sales found 2.6 million bushels this past week, which are bound for China and unknown destinations. Sorghum shipments were barely a blip on the radar after tumbling 95% below the prior four-week average.
Soybean exports saw 11.0 million bushels in old crop sales plus another 5.1 million bushels in new crop sales for a total volume of 16.1 million bushels last week. Old crop sales were down 15% week-over-week but still climbed 41% above the prior four-week average. Total sales were a bit on the low end of analyst estimates, which ranged between 11.0 million and 25.7 million bushels. Cumulative sales for the 2025-26 marketing year have reached 1.458 billion bushels and are still moderately behind last year’s pace so far.
Soybean export shipments eased 2% below the prior four-week average, with 21.0 million bushels. China, Egypt, Mexico, Colombia and Bangladesh were the top five destinations.
Old crop wheat sales stumbled to a marketing-year low after facing net reductions of 29.7 million bushels, but an influx of new crop sales totaling 38.9 million bushels led to combined sales of 9.2 million bushels. That was still toward the lower end of analyst estimates, which ranged between 3.7 million and 20.2 million bushels. Cumulative sales for the 2025-26 marketing year are still moderately higher than last year’s pace after reaching 891 million bushels.
Wheat export shipments were up 30% from the prior week but down 23% versus the prior four-week average, with 11.0 million bushels. Japan, the Dominican Republic, Haiti, Mexico and the Philippines were the top five destinations.
Click here for more highlights from the latest USDA export sales report.