In the week ending September 28, U.S. export inspections of wheat have decreased, falling further behind last year’s pace. According to the latest report from the U.S. Agriculture Department, wheat inspections totaled 397,594 metric tons, compared to 485,712 tons reported the previous week. Meanwhile, corn inspections totaled 625,870 tons, down from 710,605 tons last week, and soybeans totaled 663,355 tons, up from 507,630 tons.
Slow Start for Wheat Inspections
Total wheat inspections for the 2023/24 marketing year are currently well behind the previous year’s pace. So far, only 6.06 million tons have been inspected, marking a significant decrease of 29% compared to this point last year when 8.52 million tons were inspected. On the other hand, corn and soybean inspections are slightly higher for the new marketing year, which began in September for these grains, compared to the same period last year.
Leading Destinations and Grain Futures Trading
The Philippines emerged as the top destination for wheat this week, while Mexico took the lead for corn and China for soybeans.
Grain futures trading on the CBOT (Chicago Board of Trade) shows a mixed outlook. Most-active corn futures have increased by 2.2%, wheat is up by 3.3%, while soybeans have dipped by 0.1%.
For more detailed data on USDA Grain Inspections for Export in Metric Tons, you can search for “USDA Grain Inspections for Export in Metric Tons” in Dow Jones NewsPlus.