New Crop Corn, Soybean Export Sales Top 40 Million Bushels

New crop corn and soybean export sales were solid during the week ending July 23^rd. The USDA says new crop corn showed a week-to-week improvement led by unknown destinations and Mexico, and while new crop soybeans were down on the week, sales were still strong with China and unknown destinations topping the list. Export business is driven by several factors, including the value of the dollar, domestic prices, and seasonal changes in supply.

Physical shipments of corn and soybeans were more than what’s needed to meet projections for the current marketing year.

Corn was reported at 362,900 tons (14.3 million bushels), 9% higher than the previous week, but 25% lower than the four-week average. Colombia picked up 173,900 tons and Mexico purchased 129,800 tons, but unknown destinations canceled on 349,900 tons. With just over a month left in the 2025/26 marketing year, corn exports are 3.424 billion bushels, compared to 2.774 billion in 2024/25. Sales of 1,062,400 tons (41.8 million bushels) for 2026/27 delivery were mainly to unknown destinations (425,500 tons) and Mexico (376,300 tons).

Soybeans were pegged at 302,300 tons (11.1 million bushels), a solid rise on the week and from the four-week average. Egypt picked up 62,700 tons and Japan purchased 58,900 tons, but unknown destinations canceled on 74,500 tons. So far, this marketing year, soybean exports are 1.532 billion bushels, compared to 1.875 billion last year. Sales of 1,333,200 tons (49 million bushels) were mostly to China (519,000 tons) and unknown destinations (372,000 tons).

Soybean meal came out at 63,300 tons, a decrease of 66% from the previous week and 67% from the four-week average. The Philippines bought 56,900 tons and Taiwan picked up 30,700 tons, while unknown destinations canceled on 45,600 tons. For the marketing year to date, soybean meal exports are 17,604,200 tons, compared to 15,356,000 a year ago. Sales of 51,400 tons for 2026/27 delivery were mainly to Canada (26,000 tons) and Mexico (15,900 tons).

Soybean oil had a net reduction of 1,100 tons with sales of 100 tons each to Mexico and Saudi Arabia more than offset by a cancelation from Canada on 1,300 tons. Cumulative soybean oil exports are 375,000 tons, compared to 1,081,400 last year.

EDITOR’S TAKE:

Mostly positive news for corn and soybean exports. That said, USDA and the grain markets are still predicting larger than average carryover stocks. It is a good sign that new crop corn/soy sales are starting with some strength. Perhaps this trend, should it continue, will put a more positive spin on the 2027 market year.

One conversation you should have with your farm/ranch customers is the use of CADFI. It is a great way to match payment schedule with income flow -- no matter if the income is monthly, quarterly, semi-annual or even annual. Plus, they can bundle other purchases into the finance amount. Your F&I department will like it as well.