Corn Sales Rebound While Soybean Demand Slows Sharply

China remained the leading destination for U.S. soybeans as weekly sales declined.

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AlfRibeiro – stock.adobe.com

WASHINGTON, D.C. (RFD-TV News) — U.S. corn and wheat export sales improved during the week ending October 1, while soybean sales slowed and cotton and livestock demand remained mixed, according to USDA.

Corn net sales reached 30.3 million bushels, up 44% from the previous week. Mexico led purchases, followed by Colombia and Japan. Corn exports totaled 62.9 million bushels, down 11% from the prior week.

Soybean net sales fell 47% to 20.2 million bushels. China accounted for most reported buying at 14.1 million bushels, while soybean exports climbed 40% to 50.7 million bushels, with China the leading destination.

Wheat sales rose 56% to 16.6 million bushels, led by the Philippines and South Korea. Upland cotton sales totaled 165,100 bales, down 19%, while exports increased 8%.

Beef sales fell 11% to 13,000 metric tons, while pork sales dropped 24% to 26,900. Soybean meal exports finished the previous marketing year 14% above a year earlier.

Farm-Level Takeaway: Stronger corn and wheat sales helped offset weaker soybean, cotton and livestock bookings during the week.
Tony St. James, RFD News Markets Specialist

Tony St. James joined the RFD-TV talent team in August 2024, bringing a wealth of experience and a fresh perspective to RFD-TV and Rural Radio Channel 147 Sirius XM. In addition to his role as Market Specialist (collaborating with Scott “The Cow Guy” Shellady to provide radio and TV audiences with the latest updates on ag commodity markets), he hosts “Rural America Live” and serves as talent for trade shows.

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