USDA’s latest grain export inspection report, out Monday morning and covering the week through October 23, didn’t have much market-moving data for traders to digest. Of particular note, wheat volume was a bit disappointing after sliding below the entire range of analyst estimates. Corn and soybeans found rangebound results, meantime.
Corn export inspections eased slightly lower week-over-week after reaching 46.8 million bushels. That was also on the very low end of analyst estimates, which ranged between 43.3 million and 80.7 million bushels. Cumulative totals for the 2025-26 marketing year have still surged 57.8% above last year’s pace so far after reaching 415.2 million bushels.
Mexico was the No. 1 destination for U.S. corn export inspections last week, with 14.14 million bushels. Colombia, South Korea, Portugal and Honduras rounded out the top five.
Sorghum export inspections rebounded to 1.5 million bushels last week, which was substantially above the prior week’s anemic volume. That grain is largely bound for Spain, with Japan accounting for the modest remainder. Cumulative totals for the 2025-26 marketing year are still less than half of last year’s pace so far after reaching 6.4 million bushels.
Soybean export inspections eroded 33% lower week-over-week after reaching 39.0 million bushels. That was also on the very low end of analyst estimates, which ranged between 36.7 million and 55.1 million bushels. Cumulative totals for the 2025-26 marketing year are trending moderately below last year’s pace so far after reaching 246.6 million bushels.
Egypt was the No. 1 destination for U.S. soybean export inspections last week, with 5.4 million bushels. Italy, Germany, Mexico and Taiwan filled out the top five.
Wheat export inspections slumped to 9.5 million bushels last week, which was almost half of the prior week’s tally of 18.1 million bushels. It was also below the entire set of trade guesses, which ranged between 11.0 million and 20.2 million bushels. Cumulative totals for the 2025-26 marketing year are still tracking almost 20% above last year’s pace after reaching 421.1 million bushels.
South Korea was the No. 1 destination for U.S. wheat export inspections last week, with 4.0 million bushels. Vietnam, Japan, Jamaica and Mexico rounded out the top five.
Click here for additional highlights from the latest USDA grain export inspection report.