By Kirk Maltais
Inspections of U.S. soybean shipments through the week ended Nov. 9 fell 24% from the previous week, according to the Department of Agriculture.
In its latest weekly grain export inspections report, the USDA said that soybean export inspections totaled 1.67 million metric tons. This is down from 2.18 million tons reported last week, as well as 2.03 million tons at this time last year. Total soybean shipments are behind where they were at this time last year, totaling 14.03 million tons in the 2023/24 marketing year – a 5.6% decline from last year.
Corn and wheat shipments are higher than the previous week, according to USDA data – with corn shipments totaling 608,810 tons, while wheat shipments totaled 207,205 tons. Total corn shipments for the marketing year are higher than they were at this time last year, while wheat shipments are dragging behind.
The Philippines was the leading destination for U.S. wheat, while Mexico was the leading destination for corn and China the leader for soybeans.
Grain futures trading on the CBOT are mostly higher this morning; most-active corn is up 1.7%, soybeans are up 2.2%, and wheat is down 0.1%.
To see related data, search “USDA Grain Inspections for Export in Metric Tons” in Dow Jones NewsPlus.
Write to Kirk Maltais at [email protected]
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