USDA’s latest grain export sales report, out Thursday morning and covering the week through July 17, held mixed but mostly solid results for traders to digest. Corn volume led the way once more, staying on the higher end of analyst estimates. Wheat sales improved 50% from the prior four-week average, besting all trade guesses in the process and hitting a “marathon-esq” number. Soybean sales struggled, in contrast, after old-crop sales slumped 41% lower week-over-week.
Corn exports found 54.2 million bushels in combined old and new crop sales last week. Old crop sales eased 2% lower week-over-week, while total sales were on the higher end of analyst estimates, which ranged between 19.7 million and 63.0 million bushels. Cumulative sales for the 2024-25 marketing year remain noticeably above last year’s pace after reaching 2.369 billion bushels.
Corn export shipments slid 27% below the prior four-week average, with 41.7 million bushels. Mexico, South Korea, Colombia, Taiwan and Venezuela were the top five destinations.
Sorghum export sales bounced well above the prior four-week average after reaching 1.3 million bushels. That grain is bound for Mexico. Cumulative sales for the 2024-25 marketing year remain well below last year’s pace after reaching 62.8 million bushels.
Soybean exports gathered 14.7 million bushels in combined old and new crop sales last week. Old crop sales eroded 59% below the prior four-week average. Total sales were on the very low end of analyst estimates, which ranged between 12.9 million and 31.2 million bushels. Cumulative sales for the 2024-25 marketing year remain moderately above last year’s pace, with 1.721 billion bushels.
Soybean export shipments were 28% better than the prior four-week average after reaching 13.3 million bushels. The Netherlands, Mexico, Egypt, Japan and Indonesia were the top five destinations.
A marathon is 26.2 miles, and coincidentally, wheat sales reached 26.2 million bushels last week. That was better than the entire set of analyst estimates, which ranged between 9.2 million and 18.4 million bushels. Cumulative sales for the 2025-26 marketing year are trending moderately ahead of last year’s pace so far after reaching 107.7 million bushels.
Wheat export shipments jumped 80% above the prior four-week average, with 28.0 million bushels. Nigeria, Mexico, Indonesia, Taiwan and Chile were the top five destinations.
Click here for more highlights from today’s USDA export sales report.