USDA's latest grain export inspection report, out Monday morning and covering the week through October 30, delivered mixed signals for traders to digest. Of particular note, corn volume surged dramatically while soybeans retreated from recent highs. Wheat found solid footing with a notable rebound from the previous week's disappointing performance.
Corn export inspections jumped substantially higher week-over-week after reaching 65.7 million bushels. That was comfortably within analyst estimates, which ranged between 39.4 million and 72.8 million bushels. Cumulative totals for the 2025-26 marketing year have jumped an impressive 64.0% above last year's pace so far after reaching 482.6 million bushels.
Mexico was the No. 1 destination for U.S. corn export inspections last week, with 20.2 million bushels. South Korea, Japan, Spain and Colombia rounded out the top five.
Sorghum export inspections climbed to 2.7 million bushels last week, maintaining momentum from recent weeks. That grain is entirely bound for Saudi Arabia through Pacific ports. Cumulative totals for the 2025-26 marketing year are still running 57.7% below last year’s pace so far after reaching 9.0 million bushels.
Soybean export inspections declined 16.8% lower week-over-week after reaching 35.5 million bushels. That was within analyst estimates, which ranged between 29.4 million and 51.4 million bushels. Cumulative totals for the 2025-26 marketing year are trending 40% below last year’s pace so far after reaching 286.0 million bushels.
Egypt was the No. 1 destination for U.S. soybean export inspections last week, with 8.6 million bushels. Italy, Mexico, Japan and Vietnam filled out the top five.
Wheat export inspections rebounded to 12.9 million bushels last week, recovering from the prior week’s disappointing 9.9 million bushels. It was above the midpoint of trade guesses, which ranged between 9.2 million and 16.5 million bushels. Cumulative totals for the 2025-26 marketing year are tracking 20.5% above last year’s pace after reaching 434.6 million bushels.
The Philippines topped all destinations for U.S. wheat export inspections last week, with 2.1 million bushels. South Korea, Nigeria, Mexico and Chile rounded out the top five.
Last week’s data reinforced corn’s exceptional export performance this marketing year, while highlighting ongoing challenges in soybean markets amid Brazilian competition and delayed Chinese purchases.
Click here for additional highlights from the latest USDA grain export inspection report.