Weekly grain movement: Big three fade lower in the US

USDA’s latest report on grains inspected for export, out Monday morning and covering the week through Aug. 25, held mixed but mostly lackluster results. Corn, soybeans and wheat all trended lower from week-ago totals. Corn and wheat still managed to stay on the higher end of analyst expectations, while soybeans sank below the entire range of trade guesses. Corn export inspections reached 27.1 million bushels, trending moderately lower week-over-week. The latest tally was toward the upper end of trade estimates, which ranged between 19.7 million and 33.5 million bushels. Cumulative totals for the 2021/22 marketing year remain well behind last year’s pace, with 2.149 billion bushels. China accounted for just over half of all U.S. corn export inspections last week, with 13.6 million bushels. Mexico, Japan, Guatemala and Colombia rounded out the top five. Sorghum export inspection volume was nearly halved week-over-week after falling to around 885,000 bushels. That grain is bound for ...