USDA’s latest grain export inspection report, out Tuesday morning and covering the week through August 28, held a mostly bullish round of data for traders to digest. Corn made modest week-over-week improvements after turning in another strong performance. Wheat volume faded moderately lower week-over-week but stayed above the entire range of analyst estimates. Soybeans found moderate week-over-week improvements.
Corn export inspections moved modestly higher after reaching 55.4 million bushels last week. That was on the very high end of analyst estimates, which ranged between 33 million and 59 million bushels. Cumulative totals for the 2024-25 marketing year are trending 28.6% above the prior year’s pace after reaching 2.637 billion bushels.
Mexico was the No. 1 destination for U.S. corn export inspections last week, with 11.1 million bushels. Japan, South Korea, Colombia and Portugal rounded out the top five.
Sorghum export inspections improved to 2.4 million bushels last week. That grain is bound for Spain, Ethiopia and Panama. Cumulative totals for the 2024-25 marketing year have slumped 63.2% below last year’s pace after reaching 87.4 million bushels.
Soybean export inspections improved to 17.4 million bushels last week. That was also on the higher end of analyst estimates, which ranged between 7 million and 18 million bushels. Cumulative totals for the 2024-25 marketing year are trending 11.3% above last year’s pace after reaching 1.829 billion bushels.
Vietnam topped all destinations for U.S. soybean export inspections last week, with 4.6 million bushels. Mexico, Germany, Egypt and Japan filled out the top five.
Wheat export inspections were better than expected, reaching 29.5 million bushels. That was above the entire range of analyst estimates, which came in between 9 million and 26 million bushels. Cumulative totals for the 2025-26 marketing year are 14.5% above last year’s pace so far after reaching 244.0 million bushels.
Mexico was the No. 1 destination for U.S. wheat export inspections last week, with 5.7 million bushels. Japan, Vietnam, Colombia and Thailand rounded out the top five.
Click here to see additional highlights from the latest USDA grain export inspection report.