USDA’s latest export sales report, out Thursday morning and covering the week through July 3, held mostly bullish data for traders to digest, although grain prices remained mixed immediately following the report’s release. Corn volume led the way once more, jumping above the entire range of analyst estimates. Soybean sales trended moderately higher versus the prior four-week average, and wheat sales were on the very high end of analyst estimates.
Corn exports found 84.7 million bushels in combined old and new crop sales last week. Old crop sales jumped 70% above the prior four-week average. Total sales were better than the entire set of analyst estimates, which ranged between 20.7 million and 63.0 million bushels. Cumulative sales for the 2024/25 marketing year remain substantially above last year’s pace, with 2.280 billion bushels.
Corn export shipments tracked 15% higher week-over-week, with 66.1 million bushels. Mexico, Japan, South Korea, Colombia and the Dominican Republic were the top five destinations.
Sorghum export sales slumped 61% below the prior four-week average, with nearly 670,000 bushels. Increases to unknown destinations were partly offset by reductions to Mexico and Japan. Cumulative sales for the 2024/25 marketing year are still less than a third of last year’s pace, with 61.0 million bushels.
Soybean exports reached 27.6 million bushels in combined old and new crop sales last week. Old crop sales improved 43% versus the prior four-week average. Total sales were toward the higher end of analyst estimates, which ranged between 12.9 million and 36.7 million bushels, despite the continued absence of sales to China. Cumulative sales for the 2024/25 marketing year are still moderately ahead of last year’s pace after reaching 1.700 billion bushels.
Soybean export shipments moved 57% higher week-over-week, with 14.5 million bushels. Egypt, Indonesia, Mexico, the Netherlands and South Korea were the top five destinations.
Wheat exports reached 21.2 million bushels last week. This was on the very high end of analyst estimates, which ranged between 7.3 million and 22.0 million bushels. Cumulative sales for the 2025/26 marketing year are slightly ahead of last year’s pace so far after reaching 63.8 million bushels.
Wheat export shipments reached 16.4 million bushels last week. Brazil, the Philippines, South Korea, South Africa and Japan were the top five destinations.
Click here for more highlights and data from the latest USDA export sales report.