The latest weekly report from the Department of Agriculture reveals that inspections of soybeans and wheat exports have increased compared to the previous week. According to the report, soybean inspections for the week ending on September 21 reached 481,638 metric tons, up from 429,772 tons reported in the previous week. Wheat inspections also showed an increase, totaling 451,004 tons compared to 422,639 tons.
However, corn inspections saw a slight decline from the previous week. Inspections were reported at 660,811 tons through September 21, slightly lower than the 676,323 tons reported earlier.
The USDA reports that both corn and soybean inspections have increased compared to the previous year. Corn inspections are up by nearly 16% from this time last year, while soybean inspections have increased by 6.5%. On the other hand, wheat inspections have slightly decreased by just over 28% from last year.
China remained the top destination for wheat and corn inspections during the week under review, while Mexico was the leading destination for soybeans.
Grain futures on the CBOT (Chicago Board of Trade) are trading with mixed results at the start of this week. Most-active corn futures have declined by 0.5%, soybeans have decreased by 0.4%, and wheat has increased by 0.5%.
For more data related to grain inspections, search “USDA Grain Inspections for Export in Metric Tons” in Dow Jones NewsPlus.