USDA’s latest export sales report, out Thursday morning and covering the week through September 11, didn’t have a lot of surprises for traders to digest. Corn volume once again led the way, although some analysts were expecting to see more robust results. Soybean totals were relatively robust, especially considering that China continues to abstain from new crop sales. Wheat sales slid 12% below the prior four-week average.
Corn exports reached 48.5 million bushels last week. That was near the middle of analyst estimates, which ranged between 19.7 million and 74.8 million bushels. Mexico (16.5 million bushels) was the top destination, followed by South Korea, Japan, Spain and Honduras. Cumulative sales for the 2025-26 marketing year are roughly doubling last year’s pace so far after reaching 88.3 million bushels since the beginning of September.
Corn export shipments reached 61.3 million bushels last week. Mexico was the No. 1 destination, with 20.6 million bushels. Japan, Colombia, Portugal and Spain rounded out the top five.
Sorghum export sales climbed to 4.0 million bushels last week. Pakistan accounted for around half of the total, with unknown destinations, Japan and Mexico picking up the remainder.
Soybean export sales reached 33.9 million bushels last week. That was near the middle of analyst estimates, which ranged between 14.7 million and 55.1 million bushels. Egypt (8.4 million bushels) was the top destination, followed by Mexico, Spain, Bangladesh and the Netherlands. Cumulative sales for the 2025-26 marketing year are moderately ahead of last year’s pace so far, with 39.3 million bushels.
Soybean export shipments reached 30.8 million bushels last week. Spain was the top destination, with 4.9 million bushels. Bangladesh, Mexico, the Netherlands and Turkey filled out the top five.
Wheat exports reached a total of 14.2 million bushels in combined old and new crop sales last week. Old crop sales were 24% better than the prior week’s volume but 12% below the prior four-week average. The Philippines (6.8 million bushels) topped all destinations, followed by Nigeria, Mexico, Indonesia and Costa Rica. Cumulative sales for the 2025-26 marketing year are still moderately above last year’s pace, with 280.1 million bushels.
Wheat export shipments improved 19% above the prior four-week average, with 28.4 million bushels. Mexico, Indonesia, South Korea, Japan and Guatemala were the top five destinations.
Click here for more highlights from today’s USDA export sales report.