USDA’s latest round of export sales data, out Thursday morning and covering the week through November 28, held mixed but mostly bullish data for traders to digest. Soybeans led the way with a 17% gain versus the prior four-week average. Corn sales jumped 63% higher week-over-week and were above the entire range of analyst estimates. Wheat sales were a bit more lackluster after sliding 10% below the prior four-week average.

Corn exports found 69.1 million bushels of combined old and new crop sales last week. Old crop sales jumped 63% higher week-over-week and inched 4% ahead of the prior four-week average. Total sales were better than the entire set of trade guesses, which ranged between 29.5 million and 66.9 million bushels. Cumulative sales for the 2024/25 marketing year are moderately higher than last year’s pace so far, with 448.1 million bushels.

Corn export shipments were 17% better than the prior four-week average, with 41.2 million bushels. Mexico, Colombia, South Korea, Japan and Honduras were the top five destinations.

Sorghum export sales were lackluster last week after only reaching 169,000 bushels. That grain is bound for China, Eritrea, Japan and the United Kingdom. Cumulative sales have fallen moderately below last year’s pace so far after reaching 30.9 million bushels.

Soybean exports gathered 85.0 million bushels in combined old and new crop sales last week. Old crop sales were 17% above the prior four-week average. Total sales were toward the higher end of analyst estimates, which ranged between 40.4 million and 94.6 million bushels. Cumulative sales for the 2024/25 marketing year are still tracking moderately above last year’s pace, with 797.4 million bushels.

Soybean export shipments shifted 5% above the prior four-week average, with 89.2 million bushels. China, Spain, Taiwan, Mexico and Turkey were the top five destinations.

Wheat export sales slid 10% below the prior four-week average, with 13.9 million bushels. That was also slightly on the lower end of analyst estimates, which ranged between 9.2 million and 22.0 million bushels. Cumulative sales for the 2024/25 marketing year are still tracking moderately higher than last year’s pace, with 394.2 million bushels.

Wheat export shipments were 17% better than the prior four-week average, with 11.8 million bushels. Mexico, the Philippines, South Korea, Venezuela and Algeria were the top five destinations.

Click here for more highlights from the latest UDSA export sales report.