USDA’s latest export sales report, out Friday morning and covering the week through December 26, held mostly bearish data for traders to digest. Of particular note, soybean and wheat sales each eroded to marketing-year lows. Corn sales were also mostly disappointing after stumbling 55% lower week-over-week.

Corn exports were lackluster after sliding 44% below the prior four-week average to 30.6 million bushels. That was also below the entire range of analyst estimates, which came in between 31.5 million and 57.1 million bushels. Cumulative sales during the 2024/25 marketing year are still moderately above last year’s pace after reaching 620.0 million bushels.

Corn export shipments eased 9% below the prior four-week average, with 39.5 million bushels. Mexico, Colombia, Japan, South Korea and Honduras were the top five destinations.

Sorghum export inspections were steady week-over-week after reaching 744,000 bushels. That grain is bound for unknown destinations, Japan and China. Cumulative totals for the 2024/25 marketing year are still moderately trailing last year’s pace, with 40.2 million bushels.

Soybean exports fell 67% below the prior four-week average to a marketing-year low of 17.8 million bushels. That was also below the entire set of trade guesses, which ranged between 18.4 million and 47.8 million bushels. Cumulative sales for the 2024/25 marketing year remain moderately ahead of last year’s pace after reaching 1.045 billion bushels.

Related:USDA exports – China buys soybeans, Taiwan buys corn, Jan. 16, 2025

Soybean export shipments inched 8% higher week-over-week after reaching 62.6 million bushels. China, Egypt, Turkey, Spain and Mexico were the top five destinations.

Wheat exports fell to a marketing-year low of 5.2 million bushels, which was a 68% drop from the prior four-week average. Analysts missed the mark after offering trade guesses that ranged between 7.3 million and 21.1 million bushels. Cumulative sales for the 2024/25 marketing year are still trending moderately above last year’s pace, with 439.0 million bushels.

Wheat export shipments were 17% better than the prior four-week average, with 14.0 million bushels. South Korea, Mexico, Thailand, Italy and Taiwan were the top five destinations.

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