U.S. Corn Inspections Keep Ahead of Previous Year's Pace

By Kirk Maltais

Export inspections of U.S. corn stays ahead of last year's pace for both the week and the marketing year, according to data from the Department of Agriculture.

In its latest grain export inspections report issued Monday, the USDA said that corn export inspections for the week ended December 5 totaled 1.05 million metric tons. That's up from 948,812 tons reported last week and 725,330 tons at this time last year. It also keeps the pace of 2024/25 inspections well ahead of the previous year, with marketing year inspections totaling 12.13 million tons - roughly 32% higher from 2023/24.

Soybean and wheat inspections were down from the previous week, according to USDA data. Soybean inspections totaled 1.62 million tons and wheat inspections were 226,513 tons - both lower than this time last week. Soybean inspections stay higher than this time last year, while wheat flounders below this time last year.

Indonesia was the top destination for U.S. wheat this week, while Mexico led the way for corn and China was at the top of U.S. soybean shipments.

Corn inspections landed above the expectations of analysts for the week, said Terry Reilly of Marex in a note Monday. Soybeans landed below forecasts, as did wheat.

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

12-09-24 1145ET