US soybean sales slip outside of China

US soybean export sales for the third week of the 2025-26 marketing year hit fourteen-year lows, as buyers outside of China cut their purchases, according to US Department of Agriculture (USDA) data.

Foreign demand for US soybeans has been weighed down since the middle of 2025, as trade tensions with China ended purchases by the country in May. As a result, US export commitments to China stood at zero as of 18 September, the first time on record China had secured zero US soybeans by the third week of the marketing year.

Total US soybean export sales had been held lower so far this marketing year by the lack of Chinese purchases, which stood at 6.81mn t as of the same week last year. However, the lack of Chinese purchasing had been somewhat offset by increased declared sales to other countries, which stood at 6.55mn t as of 11 September, up 40pc from the prior year.

The week ending 18 September soybean export sales excluding China reach only 728,000t, down by 11pc from last years level for the week. Sales were lower to multiple countries, including Spain, Mexico and Egypt which all fell by more that 90,000t. Taiwan did increase its purchases, securing 116,000t, as did Bangladesh, which purchased 55,000 t.

Cancellations were minimal during the week as Indonesia, Egypt, Japan and Algeria collectively added 227,000t to their purchasing commitments through claims to previously unattributed sales.

Altogether, US soybean export commitments reach 11mn t as of 18 September, down 37pc from last year's level. This downturn puts US soybean export sales further off USDA projected exports for the marketing year, at 24pc of the projected 45.9mn t compared to the five-year average rate of 44pc.

Grain sales remain robust

Global demand for US corn and wheat remained active in the week ending 18 September, as export sales of both grains increased from the prior week to pull above prior year levels.

US corn export sales reached 2.01mn t during the week, 179pc above the volume sold in the same week last year. Mexico was again the largest purchaser during the week, securing an additional 859,000t of US corn, followed by Colombia which purchased 190,000t. Sales to undisclosed countries were also very robust, reaching 582,000t.

Only 21,000t of cancellations were reported in the week, by Honduras, while Japan, Spain, Algeria, and others increased their purchasing commitments by a combined 226,000t through claims to previously unattributed sales.

Total US corn export commitments stood at 25.8mn t as of 18 September, up by 75pc from last year's commitments for the date and at their highest level for the week on record.

US wheat export sales were strong as well, reaching 570,000t during the week and 158pc higher than the volume sold in the same week last year. The Philippines remained the largest purchaser of US wheat, securing 116,000t during the week, followed by Indonesia and Italy, which purchased 77,400t and 61,900t, respectively.

Cancellations did increase on the week, with Nigeria and Spain each canceling at least 12,000t. However, the Ivory Coast, Italy, and Colombia each expanded their purchasing commitments by 20,000t or more through claims to previously unattributed sales.

As of 18 September, US wheat export commitments stood at 13.6mn t, 24pc ahead of last year's level for the week.

By Ryan Koory