Weekly grain movement in the US: Corn posts solid results, soybeans disappoint

Published 2022년 7월 11일

Tridge summary

The USDA has released new grain export inspection data for the week ending July 7, 2022, which shows a mixed performance across different grains. Corn inspections have seen a significant increase, reaching 36.8 million bushels and staying near the higher end of expectations. Soybean inspections, on the other hand, have declined, falling below most forecasts. Wheat inspections have also been disappointing, coming in lower than anticipated. Despite these variations, the cumulative totals for the 2021/22 marketing year remain behind last year's figures. China is the leading recipient for corn and soybean inspections, while Mexico is the primary destination 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 July 7, showed corn volume continuing a strong pace overall after climbing moderately higher week-over-week and staying toward the upper end of analyst estimates. Wheat volume was weak, in contrast. Soybeans fared even worse after eroding moderately lower from a week ago and falling below the entire range of trade guesses. Corn export inspections improved to 36.8 million bushels last week. That was good enough to stay toward the higher end of trade estimates, which ranged between 28.5 million and 43.3 million bushels. Cumulative totals for the 2021/22 marketing year are still well behind last year’s pace, meantime, with 1.938 billion bushels. China was the No. 1 destination for U.S. corn export inspections last week, with 15.9 million bushels. Mexico, Japan, Costa Rica and the Netherlands rounded out the top five. Sorghum export inspections more than doubled the prior week’s ...

Source: Prairie Grain Partners