Weekly United States grain movement; corn comes in strong again

Published 2022년 3월 28일

Tridge summary

The USDA has released new grain export inspection figures for the week ending March 24, 2022, which show an increase in corn, soybeans, and wheat inspections compared to the previous week. Corn inspections rose by 7% to 63.2 million bushels, reaching the higher end of trade expectations, with China being the main importer. Soybean inspections also increased by 14% to 23.1 million bushels, but still fall behind last year's pace, with China as the leading buyer. Wheat inspections saw a slight rise to 12.5 million bushels, but remain below last year's figures, with Mexico and Japan as the primary recipients. Overall, while there is an increase in inspections compared to the previous week, the cumulative totals for the 2021/22 marketing year still lag behind last year's figures.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The latest set of grain export inspection numbers from USDA, out Monday morning and covering the week through March 24, held most bullish data for traders to consider. Corn turned in another strong performance, moving modestly higher from a week ago and making it to the very high end of analyst estimates. Soybeans and wheat also moved higher week-over-week and stayed rangebound versus trade guesses. Corn export inspections improved 7% from a week ago to reach 63.2 million bushels. That was also on the upper end of trade estimates, which came in between 39.4 million and 65.5 million bushels. Cumulative totals for the 2021/22 marketing year are still running moderately behind last year’s pace, with 1.143 billion bushels. China was the No. 1 destination for U.S. corn export inspections last week, with 18.0 million bushels. Japan, Mexico, Colombia and South Korea rounded out the top five. Sorghum export inspections saw slight week-over-week gains, reaching 13.5 million bushels. China ...

Source: Prairie Grain Partners