WASHINGTON, DC – USDA’s Agricultural Marketing Service reports historic contrasts in new crop export sales heading into the 2025/26 marketing year. Outstanding corn sales as of August 28 totaled 21.17 million metric tons, up 86% from a year ago and nearly double the three-year average. This marks the highest volume of new crop corn sales ever recorded before the marketing year begins. Mexico leads with 33% of purchases, followed by Japan at 12%, Colombia at 8%, and South Korea at 5%. Notably, China — once a top U.S. buyer — has been absent from the corn market since 2021/22.
Soybeans tell the opposite story. Outstanding new crop sales stand at just 8 million metric tons, down 32% from last year and 50% below the three-year average — the weakest start since 2019. Mexico again leads as the top buyer with 24% of sales. China, the largest soybean customer in 2024/25, has not booked any purchases for 2025/26.
Farm-Level Takeaway: Corn exporters enter the new season with record sales and strong demand from key partners, while soybeans face their weakest start in six years, underscoring the market risk of China’s absence.