Weekly Export Inspections of U.S. Soybeans Increase

In the report released by the Agriculture Department, it was revealed that export inspections of U.S. soybeans rose for the week ended Jan. 11. According to the latest weekly grain export inspections report by the USDA, soybean inspections reached a total of 1.26 million metric tons, showing an increase from the previous week’s 1.04 million tons. On the other hand, corn inspections decreased to 875,621 tons from 1.09 million tons reported in the previous week. In addition, wheat inspections totaled 234,205 tons, down from the previous week’s 501,910 tons.

Year-to-Date Comparison

Comparing the year-to-date figures with the previous year, soybean and wheat inspections are lagging behind. Soybeans have seen a decrease of 21% compared to last year, while wheat inspections have dropped by 17%. However, corn inspections have increased by 29% when compared to the previous year.

Leading Destinations

Among the leading destinations for U.S. agricultural exports, Japan was the prominent buyer of U.S. wheat, while Mexico led the purchases of U.S. corn. China topped the list as the leading destination for U.S. soybeans.

Current Market Trends

In Tuesday’s trading session, grain prices are experiencing a decline. The most-active corn has dropped by 1%, soybeans have weakened by 0.2%, and wheat has seen a 2.6% decrease.

For further information and related data, you can search for “USDA Grain Inspections for Export in Metric Tons” in Dow Jones NewsPlus.