Weekly US grain movement; corn continues a strong trend

Published 2022년 6월 27일

Tridge summary

The USDA has released new grain export inspection data for the week ending June 23, which shows mixed but generally positive trends for traders. While the volume of corn, soybeans, and wheat inspections met expectations and did not significantly impact grain prices, the details reveal important developments. Corn inspections were high, primarily going to Japan, and soybean inspections were also up, with Germany as the unexpected top recipient. Wheat inspections were slightly below expectations, with Mexico as the leading destination. These trends indicate the current status and direction of international grain trade, particularly in the 2021/22 marketing year for corn, sorghum, soybeans, and wheat, and the early stages of the 2022/23 marketing year for 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 June 23, held mixed but mostly positive data for traders to digest. However, volume for corn, soybeans and wheat came in largely as expected and failed to alter grain prices in any significant manner immediately following the report. Corn export inspections reached 49.1 million bushels last week, moving slightly higher week-over-week. That was on the very high end of trade estimates, which ranged between 35.4 million and 49.2 million bushels. Cumulative totals for the 2021/22 marketing year remain substantially behind last year’s pace, with 1.867 billion bushels since the beginning of last September. Japan was the No. 1 destination for U.S. corn export inspections last week, with 18.8 million bushels. Mexico, China, South Korea and Panama rounded out the top five. Sorghum export inspections doubled in volume from a week ago, climbing to 5.9 million bushels. Most of that grain ...

Source: Prairie Grain Partners