Corn, soybean export sales up on week, below average

The USDA’s reporting a generally mixed week for U.S. export sales numbers. Corn, soybean, and soybean oil export sales during November 14th were up from the previous week, but lower than average, while soybean meal, sorghum, rice, and pork were down from the week before, but larger than average. Beef, wheat, and cotton did see week-to-week improvements and topped their respective averages, with cotton notching a marketing year high. Export demand is driven by several factors, including the relative value of the dollar, seasonal changes in supply, and geopolitical relationships. The USDA’s next round of supply and demand estimates is out December 10th.

Wheat came out at 549,600 tons (14.958 million bushels), up 45% from the week ending November 7th and 29% from the four-week average. South Korea purchased 200,100 tons and Mexico bought 91,000 tons.

Corn was reported at 1,494,600 tons (37.963 million bushels), 14% higher than the previous week, but 40% lower than the four-week average. Mexico picked up 787,400 tons and unknown destinations purchased 146,300 tons.

Sorghum sales of 121,100 tons (3.076 million bushels) were 14% below the week before, but quite a bit above the four-week average, all to China.

Rice sales of 68,900 tons were 38% under the prior week, but 6% over the four-week average. Mexico bought 15,600 tons and unknown destinations picked up 14,000 tons.

Soybeans were pegged at 1,860,600 tons (50.637 million bushels), an increase of 20% on the week, but a decrease of 7% from the four-week average. China purchased 1,197,000 tons and Mexico bought 169,000 tons.

Soybean meal came out at 274,900 tons, 9% less than the previous week, but 3% more than the four-week average. Mexico picked up 167,800 tons and the Philippines purchased 49,000 tons, while unknown destinations canceled on 60,000 tons. Sales of 700 tons for 2025/26 delivery were to Japan.