China buys U.S. soybeans, passes on pork

Export sales for a few key commodities saw solid improvements during the week ending April 24^th. The USDA says soybean sales were above the previous week thanks to better demand from China and while pork export sales were up on the week, China was not a buyer. Soybean meal and beef export sales were also larger than the prior week. Export demand is influenced by several factors, including the relative value of the dollar and geopolitical issues, like tariffs and trade negotiations. The USDA’s next round of supply and demand numbers is out May 12^th.

Physical shipments of beans and corn were more than what’s needed to meet USDA projections for the current marketing year. The 2024/25 marketing year got underway June 1^st for wheat, August 1^st for cotton and rice, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 72,000 tons (2.6 million bushels). Thailand purchased 58,000 tons and Nigeria bought 39,000 tons, but unknown destinations canceled on 166,400 tons. Approaching the final month of the 2024/25 marketing year, wheat exports are 784.4 million bushels, compared to 690.7 million late in 2023/24. Sales of 238,300 tons (8.8 million bushels) for 2025/26 delivery were mainly to South Korea (58,000 tons) and unknown destinations (49,600 tons).

Corn was reported at 1,014,400 tons (39.9 million bushels), down 12% from the week ending April 17^th and 13% from the four-week average. Mexico picked up 451,400 tons and Colombia purchased 166,200 tons, but unknown destinations canceled on 469,900 tons. Nearing the fourth quarter of the marketing year, corn exports are 2.313 billion bushels, compared to 1.84 billion a year ago. Sales of 244,700 tons (9.6 million bushels) for 2025/26 delivery were primarily to Mexico (184,700 tons) and Japan (56,000 tons).

There were no sorghum sales. Sorghum exports are 54.2 million bushels, compared to 200.1 million last year.

Rice sales of 12,700 tons dropped 74% from the previous week and 62% from the four-week average. Japan bought 7,200 tons and Mexico picked up 3,000 tons. Rice exports are 2,737,700 tons, compared to 3,022,800 a year ago.

Soybeans were pegged at 428,200 tons (15.7 million bushels), up 55% from the week before and 27% from the four-week average. China purchased 139,400 tons and Germany bought 70,000 tons, while unknown destinations canceled on 47,600 tons. So far, this marketing year, soybean exports are 1.742 billion bushels, compared to 1.54 billion last year. Sales of 50,000 tons (1.8 million bushels) for 2025/26 delivery were to Mexico.

Soybean meal came out at 323,100 tons, rising 89% from the prior week and 88% from the four-week average. Morocco picked up 84,100 tons and the Philippines purchased 75,100 tons. For the marketing year to date, soybean meal exports are 12,352,000 tons, compared to 11,145,200 a year ago. Sales of 5,200 tons for 2025/26 delivery were to Mexico (4,100 tons) and Canada (1,100 tons).

Soybean oil was reported at 8,200 tons, a decline of 34% on the week and 42% from the four-week average. Mexico bought 4,300 tons and Guatemala picked up 2,500 tons. Cumulative soybean oil exports are 976,000 tons, compared to 111,400 last year.

Upland cotton was pegged at 108,400 bales, 4% more than the previous week, but 21% less than the four-week average. Malaysia purchased 25,600 bales and Bangladesh bought 25,400 bales. 2024/25 upland cotton exports are 10,967,500 bales, compared to 11,391,700 in 2023/24. Sales of 32,900 bales for 2025/26 delivery were mostly to Indonesia (15,800 bales) and Pakistan (15,400 bales).

Net beef sales totaled 12,900 tons, jumping 25% from the week before and 6% from the four-week average. The reported purchasers were Japan (4,000 tons), South Korea (3,700 tons), Mexico (1,400 tons), Canada (1,100 tons), and Taiwan (1,100 tons). Shipments of 15,800 tons were 20% larger than the prior week and 9% above the four-week average, mainly to South Korea (5,600 tons), Japan (4,900 tons), Mexico (1,500 tons), Taiwan (1,300 tons), and Canada (1,000 tons).

Net pork sales totaled 34,500 tons, a big increase on the week and 34% greater than the four-week average. The listed buyers were Mexico (20,000 tons), Japan (3,500 tons), South Korea (2,900 tons), Australia (2,500 tons), and Colombia (1,100 tons). Shipments of 25,800 tons were down 5% from the previous week and 15% from the four-week average, primarily to Mexico (10,500 tons), South Korea (4,700 tons), Japan (4,400 tons), Colombia (1,400 tons), and Canada (900 tons).

Tags: rice, soybeans, Beef, wheat, soybean meal, sales, China, shipments, corn, demand, export, cotton, soybean oil, sorghum, pork