In the latest weekly report from the U.S. Department of Agriculture, export sales for various agricultural commodities showed a mixed bag of results, underscoring the fluctuating dynamics of the market as of March 20, 2025.
For the week ending March 17, 2025, U.S. pork export sales experienced a significant downturn, marking a marketing year low for the second consecutive week. Despite leading purchases from Mexico, the overall figures were marred by reductions in sales, particularly with no new sales to China reported during this time.
Similarly, wheat sales stumbled, reaching a marketing year low due to substantial cancellations by buyers, particularly Panama and unknown destinations. Wheat had a net reduction of 248,800 tons (about 9.1 million bushels), contributing to a downward trend as cumulative sales continue to lag behind last year's pace.
Meanwhile, corn was a bright spot amid gloomy sales figures, posting a notable week-to-week improvement driven by robust demand from key markets like Japan, South Korea, and Mexico. Corn export sales soared to 1,496,700 tons, a 55% increase from the preceding week, and total shipments compared favorably, showing over 2 billion bushels exported so far this marketing year, an uptick from 1.642 billion bushels a year ago.
New crop sales, however, were a mixed picture, with wheat seeing some sales delivered primarily to Guatemala and Mexico for 2025/26. Corn demonstrated similar trends, reporting new sales of 61,400 tons to Mexico and Japan with a minor cancellation from China.
Total sorghum exports fell by 16% from the previous week but remained above four-week averages. Most sorghum sales were directed to Mexico, reflecting stable demand despite the overall decline.
On the soybean front, export sales plummeted, indicating a lackluster performance. Sales reached only 352,600 tons, a stark 53% drop week-over-week and 29% below the four-week average. Notably, China remained a significant purchaser of soybeans, acquiring 269,900 tons, but overall demand fell short of expectations.
In the rice sector, sales also fell significantly, down 16% from the previous week, with Japan and Honduras buying some volume but facing cancellations from unknown destinations, further complicating the market outlook. Rice exports totaled 2,491,300 tons for the marketing year, a decline from 2,697,700 tons the previous year.
Similarly, sales of soybean meal saw a slight decrease as well, with totals of 182,200 tons reported, while soybean oil experienced a notable drop of 50% week-over-week, reflecting changing market dynamics.
Total upland cotton exports also fell sharply, registering at 101,100 bales, down 63% from the prior week. Vietnam and Pakistan remained active purchasers, but cancellations by China reflected an uncertain future for upland cotton on the export market.
Despite the challenges in several sectors, beef exports showed some resilience, with net sales of 10,200 tons. Nevertheless, this was a 29% decline compared to the previous week. The main buyers included South Korea, Japan, Mexico, Taiwan, and Hong Kong, indicating a diversified market despite lower overall volumes.
The upcoming USDA’s supply and demand estimates, set to be released on April 10, 2025, will likely shed more light on these fluctuating trends and potentially realign market expectations moving forward.
The dynamics of these agricultural exports reflect a challenging trading environment where fluctuations in demand and supply significantly impact market performance. For traders and farmers alike, understanding these trends will be crucial for navigating the uncertainties in the agricultural landscape.
