The USDA’s latest export sales report on Thursday showed continued strength in U.S. corn sales, while soybean sales slumped. For the week ending Feb. 5, net corn sales totaled 2.07 million metric tons (MMT) for the 2025/26 marketing year. Volumes were nearly double the previous week, led by buying from Japan, South Korea, and Colombia. New crop sales for 2025/26 totaled 60,000 metric tons (MT), reported for Japan.

Weekly exports rose 32 percent from the previous week to 1.51 MMT. Mexico was the No. 1 destination for U.S. corn during the week. U.S. corn export commitments are running ahead of last year and the five-year average, supported by demand growth from South Korea, Colombia, and Japan. Cumulative exports and commitments are still running 31 percent ahead of the previous season.

Additionally, commitments reached 72.5 percent of the USDA’s target pace after the agency raised the forecast by 2.54 MMT (100 million bushels) on Tuesday. The current pace is still running ahead of last year’s pace despite the upward adjustment, suggesting a future increase may be warranted.

U.S. soybean export sales fell sharply last week to 281,800 MT, hitting a marketing-year low for the current season. China was still the largest buyer for the week, though sales were well below volumes seen just a month ago. Total net sales of 1,300 MT for 2026/27 were for Japan.

Weekly exports fell 19 percent to 1.13 MMT. China was the top destination, followed by Egypt and the Netherlands.

Total exports and commitments for the current marketing year are still running nearly 20 percent behind the previous season despite China partially returning to the market. Total commitments make up about 81 percent of the USDA’s current target, which is 8 percent below the five-year average, suggesting a possible downward revision in the current forecast.

U.S. soybean export sales slowed dramatically over the past few weeks after China reportedly fulfilled their 12 MMT pledge. President Trump reported last week that China is considering buying another 8 MMT of soybeans from the U.S. before the end of the season.

Wheat export sales during the week ending Feb. 5 rose 31 percent from the previous week to 488,000 MT. The Philippines was the top buyer, followed closely by Mexico. Indonesia, Japan, and Bangladesh also landed in the top five. Net sales of 13,900 MT for 2026/27 were reported for the Philippines and Colombia.

Weekly exports rose 44 percent to 580,000 MT, led by shipments to the Philippines, Bangladesh, and Mexico. Total exports and commitments reached 22.31 MMT, up 16 percent from the previous season. Commitments reached 91 percent of the USDA’s target, which is about on par with the previous season and the five-year average.

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