USDA’s latest grain export inspection report, out Tuesday morning and covering the week through January 15, held mostly bullish data for traders to digest. Corn volume took a small week-over-week step lower but was still above analysts' expectations. Soybeans also faced moderate declines but were still solid. Wheat volume notched moderate week-over-week improvements, meantime.
Corn export inspections eased to 58.4 million bushels last week. Still, that was better than the entire set of trade guesses, which came in between 39.4 million and 55.1 million bushels. Cumulative totals for the 2025-26 marketing year have climbed 55% above last year’s pace so far after reaching 1.177 billion bushels.
Mexico was the No. 1 destination for U.S. corn export inspections last week, with 12.0 million bushels. South Korea, Japan, Taiwan and Vietnam rounded out the top five.
Sorghum export inspections found moderate week-over-week improvements after reaching 6.9 million bushels. That grain is bound for China and Spain. Cumulative totals for the 2025-26 marketing year are closing in on last year’s pace after reaching 46.4 million bushels.
Soybean export inspections were down week-over-week but still solid after reaching 49.1 million bushels. That was toward the higher end of analyst estimates, which ranged between 36.7 million and 51.4 million bushels. Cumulative totals for the 2025-26 marketing year are still tracking 40% below last year’s pace after reaching 710 million bushels.
China was the No. 1 destination for U.S. soybean export inspections last week, with 12.5 million bushels. Germany, Japan, Mexico and Italy filled out the top five.
Wheat export inspections improved to 14.4 million bushels last week. That was also on the very high end of analyst estimates, which ranged between 7.3 million and 14.7 million bushels. Cumulative totals for the 2025-26 marketing year are trending 20% above last year’s pace so far after reaching 586 million bushels.
Japan was the No. 1 destination for U.S. wheat export inspections last week with 3.0 million bushels. Mexico, Colombia, Venezuela and the Philippines rounded out the top five.
Click here for additional highlights and data from today’s USDA grain export inspection report.