Wheat Export Inspections Decrease

According to the Department of Agriculture (USDA), inspections of U.S. wheat shipments for the week ended Nov. 2 dropped below 100,000 metric tons. The latest weekly grain export inspections report reveals that wheat inspections amounted to 71,608 tons. This represents a decrease from the previous week’s 198,298 tons and last year’s 181,989 tons at the same time.

Decrease in Wheat Inspections for 2023/24 Marketing Year

Wheat inspections for the 2023/24 marketing year have seen a decline of nearly 27%. Only a few countries received shipments of U.S. wheat this week, with Mexico and Egypt as the leading destinations, accounting for 64,640 tons of shipped wheat.

Corn and Soybean Shipments

While corn shipments slightly decreased compared to the previous week, soybean shipments experienced a slight increase. Corn shipments totaled 535,191 tons, whereas soybean shipments reached 2.09 million tons.

Grain Futures Trading on the CBOT

In morning trading, grain futures on the CBOT showed an increase. The most-active corn rose by 0.2%, soybeans were up 1.1%, and wheat saw a 0.3% increase.

For more detailed data, you can search for “USDA Grain Inspections for Export in Metric Tons” in Dow Jones NewsPlus.