Tridge summary
The USDA has released mixed grain export inspection data for the week ending September 22, with wheat volumes being the best but corn and soybean volumes falling short of expectations. Corn export inspections were particularly disappointing, with only 18.1 million bushels, but cumulative totals for the 2022/23 marketing year are still showing an increase from last year. Mexico was the main destination for U.S. corn, followed by Japan, China, Venezuela, and Costa Rica. Soybean export inspections also fell short of expectations, with Japan being the main destination, followed by China, Mexico, Costa Rica, and Colombia. Wheat export inspections totaled 19.1 million bushels, with China as the main destination, followed by Chile, Mexico, Taiwan, and Vietnam.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The latest set of grain export inspection data from USDA, out Monday morning and covering the week through September 22 showcased mixed but mostly disappointing results. Wheat volume fared the best, staying toward the higher end of analyst estimates despite a moderate week-over-week decline. Meanwhile, corn and soybean volumes were lackluster, spilling below the entire range of trade guesses. Corn export inspections failed to match analyst estimates that ranged between 19.7 million and 31.5 million bushels after facing a moderate weekly decline to 18.1 million bushels. Cumulative totals for the 2022/23 marketing year are still trending above last year’s pace, however, with 63.3 million bushels since the start of September. Mexico was the No. 1 destination for U.S. corn export inspections last week, with 9.9 million bushels. Japan, China, Venezuela and Costa Rica rounded out the top five. Sorghum export shipments improved from a week ago but still only totaled 798,000 bushels. That ...
Source: Prairie Grain Partners
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.