Corn and Soybean Export Inspections Higher From Last Week

By Kirk Maltais

Export inspections of corn and soybeans rose from the previous week, according to the latest figures from the Department of Agriculture.

In its weekly Grain Export Inspections report, the USDA said that corn inspections for the week ended Oct. 17 totaled 999,811 metric tons. That's up from 506,616 tons reported last week, and up from 472,413 tons reported at this time last year.

Soybean inspections totaled 2.43 million tons for the week, higher than 1.91 million tons reported at this time the previous week but down from 2.63 million tons at this time last year.

Wheat inspections fell to 268,375 tons for the week from 380,304 tons at this time last week, but up from 169,480 tons at this time last year.

Japan was the leading destination for U.S. wheat, totaling 97,799 tons, according to the USDA. Mexico was the top destination for corn, and China was the leading destination for soybeans.

Higher grain export sales reported last week were a factor supporting CBOT grain futures in morning trading Monday, says Naomi Blohm of Total Farm Marketing in a note. Grain traders view higher sales as confirmation of a tighter supply-demand picture.

Most-active corn is up 1.5%, while soybeans are up 0.9% and wheat is up 0.9%.

To see related data, search "USDA Grain Inspections for Export in Metric Tons" in Dow Jones NewsPlus.

Write to Kirk Maltais at [e-mail]

(END) Dow Jones Newswires

10-21-24 1154ET