The latest USDA export sales report, out Thursday morning and covering the week through March 12, didn’t have a lot of bullish data for traders to digest. Corn sales led the way once again despite sliding 18% below the prior four-week average. Soybean volume was much more tepid after sliding below the entire range of analyst estimates, meantime.
Corn exports saw 46.1 million bushels in old crop sales, plus another 472,000 bushels in new crop sales last week. Old crop sales were down 22% week-over-week and 18% below the prior four-week average. Total sales were toward the lower end of analyst estimates, which ranged between 23.6 million and 70.9 million bushels. Cumulative sales for the 2025-26 marketing year are still trending 30% above last year’s pace after reaching 1.711 billion bushels.
Corn export shipments inched 4% higher week-over-week after reaching 68.9 million bushels. Mexico, Japan, Venezuela, Spain and South Korea were the top five destinations.
Sorghum export sales slumped 74% below the prior four-week average after only reaching 492,000 bushels. Increases to China and Mexico were largely offset by reductions to unknown destinations. Cumulative sales for the 2025-26 marketing year are still more than doubling last year’s pace after reaching 101.9 million bushels.
Soybean exports found 11.2 million bushels in combined old and new crop sales last week. Old crop sales were down 35% week-over-week and 42% below the prior four-week average. Total sales were below the entire set of trade guesses, which ranged between 12.9 million and 33.1 million bushels. Cumulative sales for the 2025-26 marketing year are still 19% below last year’s pace so far after reaching 1.031 billion bushels.
Soybean export shipments were more robust, at 33.3 billion bushels, which was still 14% below the prior four-week average. China, Egypt, Mexico, Indonesia and Saudi Arabia were the top five destinations.
Wheat exports found 14.8 million bushels in combined old and new crop sales last week. Old crop sales slumped 58% lower week-over-week and were 36% below the prior four-week average. Total sales were on the lower end of analyst estimates, which ranged between 11.0 million and 22.1 million bushels. Cumulative sales for the 2025-26 marketing year are trending 14% above last year’s pace after reaching 702.8 million bushels.
Wheat export shipments reached 14.1 million bushels last week, which was 7% below the prior four-week average. Mexico, the Philippines, Bangladesh, South Korea and the Dominican Republic were the top five destinations.
Click here for more highlights from today’s USDA export sales report.