By The latest data from the U.S. Department of Agriculture reveals a concerning trend in soybean export inspections. According to the report, soybean inspections totaled 1.19 million metric tons, showing a decrease from both last week and the same period last year when 1.58 million tons were inspected. This has resulted in a significant gap in total shipments between the current year and the previous year, with this year’s total reaching 31.97 million tons – marking a 23% decrease from last year’s numbers.
Corn Shipments on the Rise
In contrast to soybeans, corn shipments have shown an increase compared to both last week and last year. The latest numbers indicate that corn shipments totaled 918,610 tons, showcasing a positive trend in the market. Additionally, wheat shipments, although down from the previous week, have seen an improvement from the previous year at 380,774 tons.
Leading Destinations and Market Movements
The data also highlights key destinations for U.S. grain exports – Japan emerged as the top destination for U.S. wheat, while Mexico took the lead in corn shipments, and China led the way for soybean shipments. In terms of market movements, CBOT grains are displaying mixed results today. The most-active corn is down by 0.3%, soybeans are up by 0.2%, and wheat is showing an increase of 1.6%.
For more detailed information, refer to “USDA Grain Inspections for Export in Metric Tons” in Dow Jones NewsPlus.
Comments