U.S. Grain Export Inspections Show Slight Increase

The latest data from the U.S. Agriculture Department reveals a small uptick in U.S. grain export inspections for the week ending August 24. Corn inspections totaled 597,144 metric tons, soybean inspections amounted to 322,149 tons, and wheat inspections reached 390,364 tons.

However, when compared to the previous year, there has been a decline in inspections for corn, soybeans, and wheat for the 2022/23 marketing year. Corn inspections are down 33%, soybean inspections have decreased by over 8%, and wheat inspections have declined by more than 21%. This trend indicates a significant shift in grain sales patterns.

The USDA reports that the Philippines was the primary destination for wheat during the week, while Mexico led in corn imports and China stood as the top importer of soybeans.

Grain futures trading on the CBOT (Chicago Board of Trade) painted a mixed picture. Most-active corn futures experienced a 1.2% increase, soybeans rose by 1%, and wheat saw a decrease of 1.1%.

For more detailed information, refer to “USDA Grain Inspections for Export in Metric Tons” on Dow Jones NewsPlus.