Corn Surges, Soybeans Stall: USDA Data Reveals a Split in Global Demand

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U.S. agricultural exports showed mixed momentum in late April, with corn sales surging, soybean demand softening and livestock shipments holding relatively steady, according to new data from the U.S. Department of Agriculture.

Corn led the week’s gains, underscoring its continued role as the backbone of American agricultural trade. Exporters reported net sales of 1.6 million metric tons for the 2025–2026 marketing year for the period of April 17–23, a 21 percent increase from the previous week and well above the recent average. Demand was driven largely by buyers in Latin America and Asia, with Colombia, Mexico and Venezuela among the top purchasers. Despite the strong sales, actual corn shipments dipped week over week to 1.61 million metric tons, reflecting slower logistics even as global appetite remained firm.

Soybean exports, by contrast, showed signs of cooling after earlier strength. Net sales fell 29 percent from the prior week to 258,100 metric tons, weighed down by cancellations and reductions from several destinations. China remained the dominant buyer, accounting for the bulk of new sales, followed by Egypt and Indonesia. Weekly soybean exports also declined, dropping 21 percent to 610,600 metric tons. The figures suggest that while demand persists, it may be stabilizing after a more active stretch earlier in the marketing year.

Wheat exports presented a more nuanced picture, with new sales rising sharply even as shipments declined. Net sales for the 2025–2026 marketing year climbed 75 percent from the previous week to 226,100 metric tons, led by purchases from Indonesia, Taiwan and Nigeria. Exports, however, fell 22 percent to 410,400 metric tons, highlighting uneven movement through export channels. The divergence between rising sales and falling shipments may indicate strengthening forward demand despite short-term logistical constraints.

In the livestock sector, beef exports edged lower. Net sales totaled 13,800 metric tons, down 10 percent from the prior week, while shipments slipped slightly to 12,300 metric tons. Key markets included South Korea, Japan and Hong Kong, which together accounted for the majority of U.S. beef exports. The modest decline suggests relatively stable but unremarkable demand in global beef markets.

Pork exports, on the other hand, showed renewed strength in sales. Net sales jumped to 46,300 metric tons, a significant increase from the previous week and 34 percent above the four-week average. Mexico remained the top buyer by a wide margin, followed by China, Japan and South Korea. Despite the strong sales pace, pork shipments declined modestly to 35,000 metric tons, down 8 percent week over week.

Taken together, the latest USDA data illustrate a global market still reliant on U.S. agricultural commodities, though with varying degrees of momentum across sectors. Corn continues to drive export growth, soybeans appear to be leveling off, and wheat demand is strengthening on paper even as shipments lag. Meanwhile, livestock exports remain steady, with pork showing signs of renewed demand strength and beef holding relatively flat.

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