Weekly grain movement in the US: Soybeans, wheat move higher

Published 2022년 4월 11일

Tridge summary

The USDA has released new grain export inspection data for the week ending April 7, which slightly surpassed trade expectations for wheat, soybeans, and wheat but saw a slight decline in corn inspections. Corn inspections were led to China, with Mexico, Japan, Colombia, and Taiwan rounding out the top five. Soybean inspections were also led to China, with Egypt, Germany, Saudi Arabia, and Mexico following. Wheat inspections were led to the Philippines and Mexico, with Japan, El Salvador, and Thailand completing the top five. Despite these movements, cumulative totals for the 2021/22 marketing year remain below last year's pace for corn, sorghum, soybeans, and wheat.

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 April 7, came in largely as expected after staying within the range of trade estimates. Wheat moved moderately higher from a week ago, with soybeans tracking slightly higher week-over-week. In contrast, corn slid slightly lower, with sorghum volume nearly sliced in half. Corn export inspections reached 55.9 million bushels, which was a weekly decline of around 8%. It was also a bit on the lower end of trade guesses, which ranged between 43.3 million and 76.9 million bushels. Cumulative totals for the 2021/22 marketing year are still moderately below last year’s pace, with 1.260 billion bushels. China was the No. 1 destination for U.S. corn export inspections last week, with 18.6 million bushels. Mexico, Japan, Colombia and Taiwan rounded out the top five. Sorghum export inspections fell sharply from a week ago, moving to 5.7 million bushels. That grain is largely bound for ...

Source: Prairie Grain Partners