USDA’s latest export sales report, out Thursday morning and covering the week through June 19, held mixed but mostly unsurprising results for traders to digest. Corn volume led the way once more despite old crop sales tracking 18% lower week-over-week. Soybean sales climbed 83% above the prior four-week average, meantime, while wheat sales stumbled below the entire range of analyst estimates.
Corn exports reached 41.0 million bushels in combined old and new crop sales last week. Old crop sales shifted 17% below the prior four-week average. Total sales were near the middle of analyst estimates, which ranged between 23.6 million and 61.0 million bushels. Cumulative sales for the 2024/25 marketing year remain substantially ahead of last year’s pace after reaching 2.156 billion bushels.
Corn export shipments eased 12% below the prior four-week average, with 57.9 million bushels. Mexico, Japan, Colombia, Spain and Taiwan were the top five destinations.
Sorghum exports faded 42% lower week-over-week after reaching 1.2 million bushels. Increases to China and Mexico were partially offset by reductions to unknown destinations. Cumulative sales for the 2024/25 marketing year are still moderately above last year’s pace after reaching 1.676 billion bushels.
Old crop soybean sales slid 16% lower week-over-week, with 14.8 million bushels. Total sales were toward the higher end of analyst estimates, which ranged between 7.3 million and 27.6 million bushels. Cumulative sales for the 2024/25 marketing year are still tracking moderately ahead of last year’s pace after reaching 1.676 billion bushels.
Soybean export shipments eroded 24% lower week-over-week and 20% below the prior four-week average, with 9.8 million bushels. Mexico, the Netherlands, Germany, Indonesia and Taiwan were the top five destinations.
Wheat exports only reached 9.4 million bushels last week. That was below the entire set of analyst estimates, which ranged between 11.0 million and 22.0 million bushels. Cumulative sales for the young 2025/26 marketing year are a bit below last year’s pace so far after reaching 27.0 million bushels.
Wheat export shipments also reached 9.4 million bushels last week. Japan, Mexico, the Philippines, Morocco and Jamaica were the top five destinations.
Click here for more highlights and data from the latest USDA export sales report.