Soybean and wheat volume move modestly higher, with corn down slightly week-over-week.
USDA’s latest grain export inspection report, out Monday morning and covering the week through September 21, featured rangebound results and mostly steady volume versus the prior week. Corn volume eased slightly lower, while soybeans and wheat posted modest improvements. Stand up pouch
Corn export inspections slid slightly lower after reaching 26.0 million bushels last week. That was a bit toward the higher end of analyst estimates, which ranged between 15.7 million and 31.5 million bushels. Cumulative totals for the 2023/24 marketing year are now slightly ahead of last year’s pace, with 77.3 million bushels over since the beginning of September.
Mexico was by far the No. 1 destination for U.S. corn export inspections last week, with 14.3 million bushels. China, Colombia, Japan and Taiwan rounded out the top five.
Sorghum export inspections were disappointing after only reaching 147,000 bushels last week. Around three-fourths of that total is bound for China, with Mexico picking up the remainder. Cumulative totals for the 2023/24 marketing year are nonetheless tracking ahead of last year’s pace so far, with 7.3 million bushels.
Soybean export inspections improved slightly from week-ago totals after reaching 17.7 million bushels. That was toward the lower end of trade guesses, however, which ranged between 13.8 million and 28.5 million bushels. Cumulative totals for the 2023/24 marketing year are modestly higher than last year’s pace so far, with 47.2 million bushels.
China was the No. 1 destination for U.S. soybean export inspections last week, with 11.1 million bushels. Japan, Germany, Mexico and Tunisia filled out the top five.
Wheat export inspections improved slightly from the prior week’s tally after moving to 16.6 million bushels. That was also on the high end of analyst estimates, which ranged between 11.0 million and 18.4 million bushels. Cumulative totals for the 2023/24 marketing year remain moderately below last year’s pace, with 206.8 million bushels.
China was the No. 1 destination for U.S. wheat export inspections last week, with 4.6 million bushels. The Philippines, Thailand, Chile and Thailand rounded out the top five.
Click here to see more highlights from the latest USDA grain export inspection report, which covers the week through September 21.
Senior Editor Ben Potter brings two decades of professional agricultural communications and journalism experience to Farm Futures. He began working in the industry in the highly specific world of southern row crop production. Since that time, he has expanded his knowledge to cover a broad range of topics relevant to agriculture, including agronomy, machinery, technology, business, marketing, politics and weather. He has won several writing awards from the American Agricultural Editors Association, most recently on two features about drones and farmers who operate distilleries as a side business. Ben is a graduate of the University of Missouri School of Journalism.
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