USDA’s latest grain export inspection report, out Monday morning and covering the week through November 20, held mostly positive data for traders to digest. Corn volume led the way once again, despite seeing a moderate week-over-week reductions. Wheat totals represented a pleasant surprise after rising above the entire set of analyst estimates. Soybeans were a bit lackluster, in contrast, facing moderate week-over-week cuts.
Corn export inspection reached 64.3 million bushels last week. That was also toward the higher end of analyst estimates, which ranged between 49.2 million and 68.9 million bushels. Cumulative totals for the 2025-26 marketing year are commanding a 72% lead over last year’s pace after reaching 689.0 million bushels so far.
Mexico was the No. 1 destination for U.S. corn export inspections last week, with 24.6 million bushels. Japan, South Korea, Vietnam and Portugal rounded out the top five.
Sorghum export inspections reached 2.9 million bushels last week, which was a modest reduction from the prior week’s volume of 3.3 million bushels. That grain is bound for Spain, Kenya, Mexico and Japan. Cumulative totals for the 2025-26 marketing year are still less than half of last year’s pace so far after reaching 16.5 million bushels.
Soybean exports landed at 29.4 million bushels last week, facing a moderate decline from the prior week’s volume. That was also toward the lower end of analyst estimates, which ranged between 24.8 million and 51.4 million bushels. Cumulative totals for the 2025-26 marketing year have slumped 44.5% below the prior year’s volume after reaching 401.9 million bushels.
Bangladesh was the No. 1 destination for U.S. soybean export inspections last week, with 5.6 million bushels. Algeria, Italy, Vietnam and Taiwan filled out the top five.
What export inspections bucked expectations after reaching 17.4 million bushels last week. That was above the entire set of trade guesses, which ranged between 7.3 million and 14.7 million bushels. Cumulative totals for the 2025-26 marketing year are 19.7% above last year’s pace after reaching 471.6 million bushels.
The Philippines topped all destinations for U.S. wheat export inspections, with 3.2 million bushels. Bangladesh, Taiwan, Nigeria and the UAE rounded out the top five.
Click here for additional highlights from today’s USDA grain export inspection report.