Weekly United States grain movement; corn comes in strong again
Maize (Corn)
United States
Published Mar 29, 2022
Tridge summary
The latest set of grain export inspection numbers from USDA, out Monday morning and covering the week through March 24, held the 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.
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 ...
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