U.S. Corn Export Inspections Increase


According to the latest report from the U.S. Agriculture Department, export inspections of corn in the U.S. saw a significant increase for the week ending September 7. The data revealed that corn export inspections rose by 29%, reaching a total of 623,862 metric tons. This is a notable improvement compared to the 482,789 tons reported in the previous week.

Soybean and Wheat Inspection Numbers

While corn inspections showed a positive trend, soybean export inspections, on the other hand, declined from the previous week, totaling 310,073 tons. Conversely, wheat inspections experienced a slight increase, recording a total of 406,181 tons.

Corn and Soybeans Begin New Marketing Year

September 1 marked the commencement of the new marketing year for both corn and soybeans. However, the previous marketing year (2022/23) concluded with less favorable results. Corn inspections were behind by 32% compared to the previous year, while soybean inspections saw an 8% decrease.

As the new marketing year kicks off, corn is currently ahead of last year’s pace by 4.4%, whereas soybeans have experienced a decline of 21.3%. Additionally, wheat inspections have dropped by 26% compared to the previous year.

Leading Destinations for Wheat, Corn, and Soybeans

The USDA’s report revealed that Japan has emerged as the primary destination for wheat exports during this week. On the other hand, China has become the leading destination for both corn and soybeans.

Grain Futures Trading on CBOT

In Monday’s trading session, grain futures on the CBOT displayed mixed results. While the most-active corn futures experienced a slight decline of 0.3%, soybeans saw an increase of 0.4%. Meanwhile, wheat futures encountered a more significant decline of 1.9%.

For additional data and information, interested parties can search for “USDA Grain Inspections for Export in Metric Tons” on Dow Jones NewsPlus.

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